Munich Re, the world’s biggest reinsurer, plans to buy back €1 billion ($1.352 billion) of its shares as third-quarter profit dropped 44 percent. Net income dropped to €637 million [$861.2 million] from €1.13 billion [$1.528 billion] a year earlier, the …
Munich Re, the world’s biggest reinsurer, said China will remain its biggest growth market in Asia as it considers countries such as India too unpredictable to step up investment. “Our biggest customers in China are still growing their business by …
Hannover Re, the world’s third largest reinsurer, said it expects higher rates for insurance and reinsurance in Germany following this year’s flooding and hailstorms, which led to the most costly claims in 30 years. “In view of the considerable losses …
Allianz SE’s CEO Michael Diekmann said tougher financial regulation will create takeover opportunities for Europe’s biggest insurer. “If Solvency II and Basel III mean more capital, then it’s hard for mutuals to get that,” Diekmann, 58, said in an interview …
Even a major disaster would be unlikely to push up reinsurance prices given the amount of capital currently available to back policies, said Richard Ward, chief executive officer of Lloyd’s of London. “What is going to change the rate movement? …
Hannover Re, the world’s third- largest reinsurer, said it expects reinsurance rates at price negotiations for January renewals to remain little changed. Pricing will be “rather stable,” Chief Executive Officer Ulrich Wallin said at a briefing in Monte Carlo today. …
The reinsurance industry may attract about $100 billion of new capital from alternative sources over the next five years as pension and hedge funds boost investment, according to broker Aon Plc. Companies such as Munich Re, the biggest reinsurer, and …
Munich Re, the world’s biggest reinsurer, said it expects stable rates for its property and casualty reinsurance at January price negotiations. “Prices will remain largely stable, chiefly due to the still comparatively low interest rates,” for proportional business in which …
Reinsurers may fail to increase rates they charge primary carriers for their backstop coverage when they begin price talks for 2014 in Monte Carlo this week. “I expect the market staying flat to ticking down, on the absolute premium,” Amer …
Munich Re and Swiss Re Ltd. are among reinsurers likely to face further pressure to lower the rates they charge clients as the capital available for backing policies remains near a record high, brokers said. “With the influx of new …
