Munich Re
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The carrier will also take low triple-digit-million euro hit from Laura, Hanna and Isaias.
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The top 10 carriers continue to write the lion’s share of global premiums.
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He replaces Oliver Horbelt who becomes CFO of Munich Re of America. -
Major losses from natural catastrophes were comparatively low at EUR167mn for the quarter.
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Six-month figures beat long-term average of $20bn with North American natural disasters driving the majority of the losses.
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Lower-than-average major losses helped offset nearly $800mn in pandemic-related claims.
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The German reinsurer’s performance “will decline” this year amid Covid-19 turmoil.
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Christoph Jurecka said he was "not sure if I buy in" to high-end loss estimates that Covid-19 will be the biggest catastrophe loss ever.
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Catastrophe losses were EUR208mn, up 6.6 percent from last year.
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The carrier said its solvency ratio remains within its target range.
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Munich Re will provide initial capacity but ILS investors have been approached for future cover.
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But the carrier’s CEO stressed the importance of moderation in the price hikes.
