World’s largest reinsurers report on competitive renewals season

Munich Re looks forward to Asia renewals, Hannover Re admits to softening market, and SCOR increases business by 10%

Competition is tough in the international reinsurance market, and the January renewals left no room for profitable growth, according to Munich Re managing board member Torsten Jeworrek. There was no alternative to risk-adequate prices, terms, and conditions, he added.