Hannover Re Germany unit sees rising prices
BADEN-BADEN, Germany Oct 21 (Reuters) - Hannover Re's unit responsible for German reinsurance business, E+S Rueck, expects to see prices rise for motor and homeowners' insurance in 2014, it said on Monday.
"In view of the considerable losses caused by the three hail storms and the flooding, prices are set to rise further in 2014 on the primary insurance side," Hannover Re board member Michael Pickel told a media briefing, adding that the reinsurance business would benefit from rising demand and price increases.
Floods and hail storms in June and July cost German insurers billions of euros in damage claims. (Reporting by Jonathan Gould; Editing by Maria Sheahan)
- Putin dissolves state news agency, tightens grip on Russia media
- North Korea says Kim's powerful uncle dismissed for 'criminal acts'
- Cold, ice grip U.S. as more snow to blanket East
- Thai PM calls snap election, protesters want power now |
- Protesters fell Lenin statue, tell Ukraine's president 'you're next'