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Should be good news for Berkshire Reinsurance...
Munich Re chief expects reinsurance prices to stay highFinancial Times: Content 80abe7c0 e722 4224 8bf2 77bacab195f5(Paywall)
The head of Munich Re, the world’s biggest reinsurer, expects the benign conditions that have powered record profits for the industry, but increased costs for businesses and households, to be sustained in coming months.
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The boom in profits had led to expectations that prices would begin to fall as new providers were drawn to the market.
But Munich Re chief executive Joachim Wenning said on Thursday that he does not anticipate any “softening” in the reinsurance market ahead of the key policy renewals that happen at the end of the year, of which property catastrophe cover is a major part.
