BADEN-BADEN, Germany (Reuters) - Reinsurer Munich Re expects to keep its pricing power steady in renewing risk cover contracts with insurers in the coming weeks, playing down the competitive threat from pension fund investors that may undermine prices.
The world's biggest reinsurer said it was well positioned for negotiations with insurance companies for new contracts for reinsurance cover that take effect on Jan. 1, as talks with insurers get underway in this southern German spa resort.
"Munich Re expects prices for business in its own portfolio to remain largely stable," Munich Re board member Ludger Arnoldussen told a media briefing.
Many observers have suggested reinsurance prices would be under pressure in 2014 from an inflow of capital from pension funds, which is increasing the supply of reinsurance available in the market.
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