Munich Re cuts back on retrocession program for 2023

Germany-based Munich Reinsurance Co. has slightly cut back on its retrocession program for 2023 as market conditions continued to be challenging at the renewals, but it still secured $513 million in collateralised quota share capacity, Artemis reported. Due to the difficult market environment, the reinsurer had to balance price and volume, which resulted in the downsizing of the retro program.