MONTE CARLO/ROUNDUP: Munich Re expects more demand and higher losses

MONTE CARLO (dpa-AFX) – The world's largest reinsurer Munich Re expects demand for reinsurance protection to remain high despite a sharp rise in premiums. However, the Dax group announced on Sunday at the new industry meeting in Monte Carlo that the increase is unlikely to continue as strong as in the past three years. Insurance claims are becoming increasingly expensive in some areas.

Since Saturday (September 7), reinsurers such as Munich Re, Swiss Re and Hannover Re have been meeting with brokers and customers in the Principality of Monaco – including primary insurers such as Allianz and Axa. In the Principality of Monaco, the prices and conditions for the major contract renewal at the turn of the year apply. In recent years, reinsurers have increased their prices significantly.