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Reinsurance premiums expected to drop in 2014: Hannover Re chief

December 31, 2013 - 6:00am

Hannover Re chief Ulrich Wallin has said he expects reinsurance premiums to drop in 2014, German daily Die Welt reports.

Mr. Wallin told the newspaper that 2013 was an unusual year and the reinsurer is taking a cautious approach toward 2014. He also said that the reinsurer would waive business if the premiums fall too much, adding that the company is not keen on engaging in a price war.

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