Munich Re’s appetite is stable, but its book is changing

Munich Re thinks the tumultuous renewal the market endured last year will not be repeated this year. While cedants may not always be happy with deals, and reinsurer gains from the past year will not be rolled back, primary insurer clients will at least approach this renewals cycle aware of Munich Re’s stance.

“There will be no spectacular change in our appetite this renewal,” Guido Funke, Munich Re’s chief for global clients and Lloyd’s, told Intelligent Insurer. “We had a clear appetite last 1/1, which itself hadn’t changed much from the past years.”