E+S Rück expects further price increases and improved conditions

Discussions at last year’s Baden-Baden meeting got caught up by the imminent volatility and dislocation around property-cat capacity that characterised the 1/1 2023 renewal. This year, Michael Pickel (pictured), chief executive officer of E+S Rück, the Hannover Re subsidiary responsible for the reinsurer’s German operations, has unfinished business.

“Baden-Baden, and not only this Baden-Baden, is not meant just to discuss rates on nat cat,” Pickel told a media briefing in Baden-Baden, by way of a reset against the 2022 madness. “Last year was a bit of a rush because capacity disappeared from the market; we neglected to discuss other features.”