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Mar 2018 Munich Re is about to devise a layoff plan for its global reinsurance network. The information, reported by German magazine “Versicherungsmonitor”, then by press agency “Reuters”, has not yet been confirmed by the institution concerned.
This initiative has been designed to reduce operating costs and improve reinsurer’s profitability. The afore-mentioned sources explain that Munich Re is likely to resort to this resolution following in particular the poor increase of reinsurance rates which remain inadequate in light of rising loss experience.
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