Reinsurance prices likely to remain stable in Germany: Hannover Re

Michael Pickel, a management board member at Hannover Re S.E., has said that reinsurance prices in Germany are expected to remain stable despite losses of around €5 billion ($6.5 billion) from two storms, reported Bloomberg.

Losses from storm Ela and late claims from hailstorm Andreas that hit in 2013 would probably help maintain stable prices, Mr. Pickel said. Insured losses from Andreas totaled €2.9 billion, while those from Ela totaled €1.8 billion.

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