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Golling: Munich Re prepared to give up cyber business over accumulation concerns

Munich Re, the world’s largest cyber reinsurer, could potentially exit businesses that fall into the category of having systemic exposures, according to board member Stefan Golling. Golling emphasised that understanding accumulation potential is key to establishing a sustainable cyber insurance market, and warned industry players against overexposing their balance sheets. The cyber insurance market is said to be prone to complacency, with growth more indicative of rate increases than market penetration.

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