Munich Re expects rising reinsurance prices in Europe

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<abstract displayLabel="Summary">Reinsurance prices would likely rise in Europe as a result of the recent increase in natural catastrophes, the ongoing COVID-19 pandemic as well as the high inflation average coupled with low interest rates for investments, German reinsurer Munich Re said on Monday. "Rising prices for various assets and the latest major losses make considerably higher reinsurance rates in Europe likely," said Doris Hoepke, member of Munich Re's Board of Management, in a statement. The extreme floods that struck central Europe in the middle of July caused the most serious losses this year. Overall losses were estimated at 46 billion euros (53.4 billion U.S. dollars), of which more than nine billion euros were insured, according to Munich Re.</abstract>
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