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Munich Re not facing ILS competition in cyber risk business

Cyber security

Germany-based Munich Reinsurance Co. said that that it is facing little competition from the insurance-linked securities sector in its cyber risk business with the reinsurer accounting for 10% of global cyber premiums in 2018, reports. The reinsurer said that global cyber gross written premiums totaled $8 billion in 2018, up 100% from 2017.

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