Clarisse Kopff, Member of the Board of Management at Munich Re, has indicated that amid climate-related perils and the impacts of geopolitical and macroeconomic instability, the firm will continue to fulfil its stabilising role, grounded in enduring client relationships.
Munich Re noted that with the past eleven years being the warmest on record, the risks of droughts, flash floods, and hailstorms are all increasing, and that, combined with rising value concentrations and persistently high inflation, is driving stronger demand for reinsurance, requiring a differentiated approach to meet diverse market and client needs.
“Lines of business and markets vary in their inherent characteristics. They obey to different supply and demand dynamics. And clients themselves each have their own buying motivations and behaviour. This all prompts differentiated answers and solutions,” Munich Re explained.
Clarisse Kopff, member of Munich Re’s Board of Management responsible for Europe and Latin America, continued, “In an increasingly uncertain environment, Munich Re will continue to play its stabilising role.
“Be it on climate-related perils, or effects of the geopolitical and macroeconomic instability, we will stand by our clients and provide them with the strong and sustainable support they need.”
Munich Re also highlighted that Europe’s vulnerability to natural catastrophes is demonstrated almost every year.
The firm pointed to the 2021 Ahrtal flood in Germany, which caused €10.9 billion in insured losses, and the 2023 Kahramanmaraş earthquake in Turkey, which resulted in €5.5 billion in insured losses, the largest loss events on record for both countries.
Since 2020, Munich Re said it has steadily increased its NatCat net exposure by 27% annually for the “Flood Germany” loss scenario and by 10% annually for the “Earthquake Turkey” scenario.
“At Munich Re, we listen, understand and come up with bespoke solutions to appropriately address the individual reinsurance requirements of clients in their specific markets. Our strong historical local presence and deep market-specific underwriting knowledge help us do that”, Kopff added.
Munich Re emphasised that its business is built on long-standing client relationships, which provide mutual performance stability for both parties.
These partnerships have reportedly been, and will continue to be, the foundation for growth across traditional, developing, and emerging lines of business.
Kopff concluded, “We believe that by working together with our clients, we can be more effective in narrowing the protection gap.
“In ever more complex and riskier times, we provide large and reliable capacity, and we bring our expertise to the clients to enable mutual profitable growth and avoid surprises.
“We will adapt to the variety of markets and client situations, and we will differentiate our approaches, whilst continuing to look for a good balance of risks between our clients and us.”
In related news, during RVS 2025 in Monte Carlo, Munich Re’s Kopff offered Reinsurance News insight into the evolving reinsurance market in Europe and Latin America, highlighting trends in demand, natural catastrophes, and the need for public-private collaborations.
Kopff noted at the time that demand for reinsurance is growing in both Europe and Latin America, with a particularly strong increase in the latter due to a progressive catch-up on the significant penetration gap in the region.
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