Further rate stabilisation in reinsurance expected
Thursday, 11 10 2016, Category: Insurance and Reinsurance, Country: World
Global reinsurance giant Munich Re has said that the reinsurance industry remains challenging, but is anticipating the sector to trend towards stabilisation following reduced pressure on pricing and terms at recent renewals.
One of the world’s largest reinsurance companies, Munich Re, has now reported its third-quarter 2016 results, stating that the firm is on track for the year following profit of €684 million, in a challenging operating landscape.
Munich Re pointed out that conditions in the global reinsurance market remain tough, but stressed that “the pressure on prices, terms and conditions has eased off slightly in recent renewals rounds. Munich Re is now anticipating clear trends towards stabilisation.”