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Munich Re reflects on the diversity of renewals
02 February 2012
January 1 renewals were “very heterogeneous”, said Munich Re, which also noted that it had pulled away from some business lines which "no longer met profitability requirements."
Munich Re has noted that January 1 renewals saw a spread of changes to rates, largely dependent on business lines and geography.
Reflecting on renewals as part of its financial results announcement, the reinsurer said that there had been some marked increases in rates where lines had been particularly affected by losses, citing in particular catastrophe business in the US, Australia and Southeast Asia.
However, prices on European catastrophe business...
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