Munich Re expects continued high demand for reinsurance By dpa-AFX

MONTE CARLO (dpa-AFX) – The world’s largest reinsurer Munich Re (ETR:) expects demand for reinsurance protection to remain high despite sharp increases in premiums. In the years 2024 to 2026, the reinsurance market in the property and casualty business is expected to grow by two to three percent annually, adjusted for inflation, the Dax group announced on Sunday at the legendary industry meeting in Monte Carlo. In addition to hurricanes, earthquakes and an increasing number of severe thunderstorms with hail, tornadoes and floods, the industries are increasingly causing class action lawsuits in the USA.

The trend towards judgments with ever higher compensation amounts is continuing there, writes Munich Re. This qualifies specialised lawyers and investors who finance proceedings. The development of insurance premiums will not keep pace with this trend for many years to come.

Since Saturday (7 September), reinsurers such as Munich Re, SwissRe (SIX:) and Hannover Re (ETR:) in the Principality of Monaco with brokers and customers – primary insurers such as Allianz (ETR:) and Axa (BIT:) There you will find many prices and conditions for the major contract renewal at the turn of the year. More than 3,000 participants from around 80 countries are expected at the four-day meeting.