Munich Re

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.

The quota share cyber reinsurance market is finely poised, with good appetite for strong cyber writers, but reinsurers are cautious of new writers or fronted MGAs.

After founder members Axa and Allianz dealt a potentially terminal blow to the Net-Zero Insurance Alliance by withdrawing, the NZIA is exploring limited options to continue.

The executive first joined the group via Munich Reinsurance America. 

The ongoing debate raging in London on the nuances of cyber war wordings threatens to wreak more reputational damage on the industry if a consensus is not found.

Most carriers were keen to talk about how they are taking on the ongoing hard market in Q1, but some complexities partly offset their good news.