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Munich Re CEO expects property and casualty reinsurance demand to rise
The CEO attributed the medium to long-term outlook to ongoing insurance gaps, new cyber and AI-related exposures, and climate-driven increases in expected claims activity.
Munich Re CEO Christoph Jurecka said he expects demand for property and casualty (P&C) reinsurance to keep rising over the medium to long term, citing structural tailwinds rather than short-term swings in market conditions.
Jurecka pointed to insurance gaps worldwide, where many risks remain uninsured or only partially covered, creating continued demand for reinsurance capacity.
He also highlighted emerging risk categories that businesses and societies increasingly face, including cyber threats, artificial intelligence, and expanding data center infrastructure, which he said are not to a large extent insured at present.
On climate, Jurecka said changing weather patterns are expected to increase claims activity, adding to the rationale that reinsurance demand will go up even as recent periods have been supported by relatively limited major loss activity, according to Reinsurance News.