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International

Munich Re January renewals, new business drop 10%

February 06, 2015 Reprints

During the January renewals, Munich Reinsurance Co. continued pulling back on property/casualty underwriting, Artemis.bm reported.

The reinsurer wrote nearly 10% less business. It said it does not expect market conditions to change in 2015. Munich Re head of reinsurance activities, Torsten Jeworrek, said overcapacity and a relatively low number of major natural catastrophes in 2014 "added to the competitive pressure, above all in catastrophe business."

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Munich Re January renewals, new business drop 10%

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