Addressing the outlook for demand, Jurecka said that his opening comments on market development, in its Q2’26 results call, were focused on the longer-term picture rather than short-term fluctuations. While Munich Re expects demand to strengthen, Jurecka said conditions have also been favourable in recent periods. Munich Re said that as market conditions normalise, supply and demand should gradually move back towards a more balanced position. Despite discussing the possibility of a future market adjustment, Jurecka stressed that current P&C reinsurance conditions remain favourable. Munich Re’s assessment is that long-term demand growth will continue to be supported by expanding risk exposures, while future claims experience and capital availability will determine how quickly the P&C reinsurance market reaches a new balance between supply and demand.