Stock market today: Asian stocks mixed ahead of US inflation data
TikTok seeks to reassure U.S. employees ahead of Jan. 19 ban deadline
US won't seek charges in unarmed Black motorist Ronald Greene's fatal 2019 arrest
Euro zone households could increase consumption, ECB chief economist says
Foreigners sold South Korean equities last month by most since early 2020
As fires ravage Los Angeles, Tiger Woods isn't sure what will happen with Riviera tournament
Antetokounmpo gets 50th career triple-double as Bucks win 130-115 to end Kings' 7-game win streak
No 97 Laura Siegemund upsets Olympic champion Zheng Qinwen at the Australian Open
FRANKFURT (Reuters) - Munich Re said on Sunday that it will push for higher reinsurance rates to take into account the fact that costs for insured damages are rising much faster than overall consumer prices.
"Damage inflation is significantly higher (than overall inflation) in many reinsurance segments," management board member Thomas Blunck said in a statement on the 'Rendez-Vous de Septembre' industry meeting in Monte Carlo.
He cited higher U.S. legal claims for damages, costly new medical treatments as well as shortages in construction materials and qualified workers, among other factors driving inflation of insured damages.
"Munich Re will continue to be mindful of adequate reinsurance rates and contract terms," management board member Thomas Blunck said in the statement.
(Reporting by Ludwig Burger; editing by David Evans)
