Munich Re

The carrier has raised its projection for the year to EUR4.5bn, up from EUR4bn.

Executives said geopolitical uncertainty, economic stagnation, cyber, cat events and inflation will drive demand on the Continent.

The incoming president succeeds Christian Lay, CEO at Marsh McLennan UK.

Our virtual roundtable polled industry leaders on critical questions for the reinsurance market. Today, we explore how the industry can collaborate on net-zero objectives after insurers exited the Net-Zero Insurance Alliance (NZIA) in droves.

Executives said the cyber market would be “dead” if it does not control accumulations.

AM Best said market hardening was likely to continue through 2024, given global market conditions.

The ratings agency believes Munich Re will defend its “excellent” competitive position and conservative capital management over the next two years

Swiss, Munich, Hannover and Scor all delivered optimistic messages on pricing for next year.

The executive also lambasted the growing tide of corporate regulation in Germany and the EU.

Flooding in Italy during the second quarter cost the German reinsurer around EUR200mn.

The carrier announced the launch of the green solutions portfolio in May as it looks to become a market leader for sustainable risks.

Lucas Beckmann has spent just over 15 years at Munich Re in several senior roles.