Munich Re Sees ‘Profitable Growth’ in Industry Insurance
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Munich Re said it expects to increase the firm’s industry-insurance business, which offers insurance and reinsurance for corporate clients.
“We have shown that we can achieve profitable growth in the business at a low double-digit percentage range over the cycle,” August Proebstl, head of the company’s Corporate Insurance Partner unit, said in an interview in Munich. “Over the last five years our compound annual growth rate was almost 13 percent.” The business doesn’t have a specific growth target, he said.