Reinsurer Munich Re eyes stable book in January renewal
FRANKFURT, Sept 8
FRANKFURT, Sept 8 (Reuters) - Munich Re said it expected its portfolio of reinsurance risks would remain largely stable when it renews contracts with insurance clients for Jan. 1, 2014.
The world's biggest reinsurer said it was seeing increasing price competition from investors such as pension funds, which are buying into the securitisation of insurance risks such as hurricane damage in the United States.
"The prices for reinsurance protection in these segments were already under pressure in the 2013 renewal seasons, albeit less than originally anticipated," Munich Re said in a statement on Sunday.
- Exclusive: Radar data suggests missing Malaysia plane flown deliberately toward Andamans - sources
- Investigators focus on foul play behind missing plane: sources |
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia blocks internet sites of Putin critics
- Tire blows out on passenger jet taking off from Philadelphia airport