Reassessing the bottom line

CLEMENS MUTH, head of economic and insurance research at Munich Re.What do you consider to be the main problems facing the industry in 2004?The key challenge for the reinsurance industry remains the adherence to risk-adequate pricing/terms and conditions, despite the fact that there is a decline of prices in some segments. Munich Re is committed to this.We clearly prioritise profit over volume, and clear incentives are set for the management and underwriters.How has the poor performance of t