Munich Re eyes stable prices in talks with insurers
BADEN-BADEN, Germany Oct 22 (Reuters) - Munich Re expects to see broadly stable prices in contract talks with insurers to renew reinsurance cover for 2013, it said on Monday.
The world's biggest reinsurer would point to low long-term interest rates, which are dampening investment income, and rising casualty insurance claims as reasons why it cannot lower the price that it asks insurers to pay for reinsurance cover, Munich Re board member Ludger Arnoldussen said at a news conference.
Reinsurers and their insurance company clients are meeting in the resort city of Baden-Baden to start talks on the prices and conditions for reinsurance cover next year. (Reporting by Alexander Huebner, writing by Jonathan Gould)