Risk Quantum/Munich Re
Top European insurers bet on private equity
Allianz and Axa had a combined €29 billion at end-2019
Munich Re adjusts sovereign portfolio
Reinsurer clips US, UK, Italy holdings
Solvency II capital charges concentrated in two key risks
Market risk SCR averages 37% across six large insurers
Equity hedges protect Munich Re from vol spike
Net derivative liabilities fall 95% year-on-year