MONTE CARLO (dpa-AFX) – The world’s largest reinsurer Munich Re expects prices for reinsurance cover to continue to rise, mainly because of high inflation. “Our premium volume will grow, if only because of inflation,” said Board Member Torsten Jeworrek on Sunday at the traditional industry meeting in Monte Carlo with a view to the conclusion of contracts for 2023. In addition, growing risks from climate change are encountering a shrunken range of reinsurance protection. This also speaks for higher premiums.
After a two-year break due to the corona pandemic, representatives of the industry have been meeting their customers again since this weekend in the Principality of Monaco on the Cote d’Azur. With these primary insurers such as Allianz and Axa, they are exploring the conditions for contract renewals at the turn of the year.
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