Munich Re embraces alternative capital for risk transfer
Posted On: Aug. 16, 2018 5:48 AM CSTMunich Reinsurance Co. is increasingly using alternative capital through sidecar vehicles to cede more risk to external parties amid an increase in its property/casualty reinsurance premiums, Artemis.bm reports. Munich Re's property/casualty reinsurance premiums grew 42% at the July renewals. The reinsurer's ceded premiums increased 46% year over year to €556 million ($630 million) in the second quarter. Jorg Schneider, Munich Re's chief financial officer, said that the reinsurer has reduced the volume of traditional retrocession.