Munich Re's P&C capital charge swells €2bn in 2018

Heightened exposure to natural hazard risks, coupled with a shake-up to its internal model, hiked Munich Re’s regulatory charge for property and casualty (P&C) risk by 21% in 2018.

The German reinsurance group’s solvency capital requirement (SCR) for P&C underwriting risk hit €11.1 billion ($12.7 billion) at end-2018, up from €9.1 billion the year prior. Taking diversification benefits into account, the respective totals were €7.6 billion and €6.3 billion. 

The charge for large and

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