Munich Re embraces Solvency II

27 October 2009

The financial crisis and Solvency II are combining to produce a renaissance period for reinsurers, according to Ludger Arnoldussen, Munich Re director in charge of business in Germany, Asia and Africa.

The financial crisis and Solvency II are combining to produce a renaissance period for reinsurers, according to Ludger Arnoldussen, Munich Re director in charge of business in Germany, Asia and Africa.

Speaking to journalists at the reinsurer’s traditional breakfast press call, Arnoldussen said that many insurers experienced a drastic slump in their equity capital in 2008. One of the main lessons insurers learned from the crisis is that reinsurance is an effective solution for financial and balance sheet management.

At the same time, insurers now see Solvency II in a new light, as they gear up for the new regulatory framework due for implementation in 2012. Under the new Solvency...


To continue reading this article please subscribe or take a free trial to Reactions.
http://www.reactionsnet.com/Article/2325305/Sectors/23074/Munich-Re-embraces-Solvency-II.html