May 7, 2013 / 1:36 PM / in 4 years

Munich Re sees no need to bolster capital in life units

FRANKFURT, May 7 (Reuters) - Munich Re does not expect persistent low interest rates to eventually force it to shore up capital in its life insurance business, Munich Re’s chief financial officer said.

“We do not foresee that we have to inject capital into our life primary insurance subsidiaries,” Joerg Schneider said in response to an analyst’s question on a conference call.

Schneider said he hoped that there would soon be a “reasonable solution” for the treatment of long-term life insurance business under new Solvency II risk capital rules for insurers, which are expected to come into force in 2016. (Reporting by Jonathan Gould; Editing by Christoph Steitz)

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