European reinsurers are entering the Jan. 1 renewal season with capital levels well above their targets, which could heighten pricing pressure across the market, according to JPMorgan Chase & Co., Reinsurance News reported. Germany-based Munich Re AG and Hannover Rueck SE, as well as Swiss Reinsurance Company Ltd., are materially over-capitalized, with Solvency II ratios at the upper end of their target ranges.
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