Presentation - Renewals 2004 - Munich Re
Presentation - Renewals 2004 - Munich Re
Presentation - Renewals 2004 - Munich Re
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Risk adequate pricing<br />
Overview<br />
Proportional<br />
business<br />
XS-treaty/<br />
facultative<br />
business<br />
<strong>Re</strong>insurance group<br />
Business units / Lines of business Outlook<br />
Strict application of risk-adequate pricing<br />
– Only clients that implement strict risk-related original rates policy and<br />
procure reinsurance for pure capacity reasons get proportional cover<br />
– Application of sophisticated prospective pricing tools<br />
– Permanent monitoring of original rates introduced by segment/by<br />
market to have most up-to-date information available for adequate<br />
underwriting decision (avoid retrospective view)<br />
– Additional underwriting audits to verify the underwriting of our cedants<br />
– Introduction of clauses to guarantee rate increase/rate stability of the<br />
covered portfolio<br />
– Application of state-of-the-art pricing tools<br />
– Good knowledge of price adequacy<br />
– Worldwide monitoring of price developments<br />
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