Catastrophes hurt Munich Re's property/casualty reinsurance
Posted On: Mar. 2, 2020 5:18 AM CST
Munich Reinsurance Co.'s property/casualty reinsurance business reported a technical loss last year due to a rise in claims from natural and man-made disasters, Artemis reported. Man-made catastrophes-related claims increased nearly 20% year-over-year to more than €1 billion ($1.1 billion) in 2019, while claims from natural disasters surged nearly 65% to surpass €2 billion.