Presentation - Renewals 2004 - Munich Re
Presentation - Renewals 2004 - Munich Re
Presentation - Renewals 2004 - Munich Re
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<strong><strong>Re</strong>newals</strong> outlook:<br />
<strong>Re</strong>asons for a stable market<br />
Overview<br />
Supply<br />
<strong>Re</strong>insurance group Business units / Lines of business Outlook<br />
– Capital position of the industry is adequate but not excessive<br />
– Investment returns do not compensate for poor underwriting results<br />
– Continued rating agencies’ pressure on the industry<br />
– Improved price transparency and cycle monitoring<br />
– Lessons learned among many industry players<br />
Demand<br />
– Continued high demand for reinsurance cover<br />
– Limited appetite among primary insurers for volatile earnings remains<br />
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