As ebbing rates and recent catastrophe losses impact European reinsurers, some of the better-positioned players, such as Munich Re and Hannover Re, are outpacing their peers, a Benfield Group study has found.
According to the reinsurance broker's latest European Reinsurance Quarterly report, among Europe's major players Munich Re and Hannover Re both reported healthy profit jumps during the 2005 first quarter.
Pre-tax profit rose 29 percent for Munich Re, 19 percent for Hannover Re. Munich Re's combined ratio was 95.5, while Hannover Re's was 97.1. Benfield said the two reinsurers were helped by growth in property-casualty as well as life-health reinsurance segments.
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