No nat cat white flag at Munich Re, which has resources to manage the risk

A key theme of the Rendez-Vous so far has been a lack of new investors into the industry—despite favourable hard market conditions.  Munich Re suggests there are several reasons for this—but one is simply that risks are so much more complex now, certainly on property-cat.

“We have seen player after player in the industry who has, I would say, raised a white flag,” board member Stefan Golling told a briefing at Monte Carlo. “Some even completely left the property reinsurance business.”