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19 May 2012

Munich Re reduces risk appetite following credit loss

23 March 2010

Munich Re has withdrawn from writing most structured trade credit reinsurance and reduced its appetite for all credit risks after the recession drove this part of its business to EUR510mn losses in 2009.

The German (re)insurer noted that increased losses in lines of business affected by the recession were offset by low natural catastrophe claims, which contributed only EUR196mn for the year.

The company had hoped for a lighter loss experience for credit and surety lines in the fourth quarter...

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