Munich Re grows 42% at July renewals
Munich Re has grown premium volume by 42 percent year on year to about €3.3 billion in the 1 July 2018 renewals.
The strong increase was chiefly attributable to a large-volume treaty in Australia, and profitable growth of reinsurance quota share business in the USA, the company said.
Prices continued to increase in the markets affected by natural catastrophes, particularly in the Caribbean, but otherwise remained stable given the high capacity levels in the markets, Munich Re noted.
The price increase for the July renewals amounted to 0.9 percent overall, excluding the effect from higher interest rates.
At 1 July 2018, a volume of around €2.3 billion was up for renewal at Munich Re. About 27 percent of this volume was from North America, 15 percent from Latin America, and another 14 percent from Australia.
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