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Munich Re’s MEAG joins $500M equity investment in Longroad Energy

2nd August 2022

Longroad Energy Holdings has announced a $500 million equity investment by Munich Re’s MEAG. Longroad Energy affirmed that the investment will support their strategic shift from a primarily “develop to sell” business model, to one that is oriented more towards ownership. Longroad Energy says that this will accelerate the expansion of ... Read the full article

Insured losses from natural disasters hit $34bn in H1 2022, says Munich Re

28th July 2022

Once again, the U.S. led the way in the first half of 2022 with the highest level of weather-related losses, which, globally, reached $65 billion in the period, of which slightly more than 50% were covered by re/insurance, according to Munich Re. The reinsurer's H1 2022 natural disaster review examines a ... Read the full article

Munich Re’s HSB creates new Commercial Division

21st July 2022

Munich Re-owned specialty insurer HSB (UK & Ireland) has announced the formation of its new Commercial Division, creating a closer alignment between the firms business development, underwriting and claims teams. The Commercial Division will deliver a more collaborative and seamless customer experience for brokers, insurers and MGAs. In a press release, HSB noted ... Read the full article

Munich Re Specialty Insurance appoints Head of Contract Surety

19th July 2022

Munich Re Specialty Insurance (MRSI), a division of German reinsurance giant Munich Re, has named Mark Latini SVP/Head of Contract Surety. MRSI made the announcement today on LinkedIn, Latini shared the news of his new role on the same platform three days ago. He wrote: “I’m happy to share that I’m starting ... Read the full article

Munich Re could face Russian jet loss via war risk policies: Jefferies

15th July 2022

Analysts at investment bank Jefferies have contended that Munich Re faces a “non-trivial” exposure to the ongoing aviation crisis concerning jets stranded in Russia, possibly via its “war risk” policies. Munich Re has a 49.96% share of Global Aerospace, which is on the all-risks cover for aircraft lessing giant Aercap, which ... Read the full article

Munich Re’s COVID claims persisting beyond expectations: Jefferies

14th July 2022

Analysts at Jefferies have reported that Munich Re’s COVID-19 claims on the life reinsurance side of its business have lasted far longer than anticipated, contrary to the market’s initial views. At Munich Re's recent management meetings, a key discussion point was the ongoing impact of COVID claims to the reinsurer’s life ... Read the full article

Munich Re backs smart contract insurance provider

12th July 2022

Chainproof, which plans to offer licensed, institutional-grade insurance coverage for open-source, non-custodial smart contracts, has announced its launch. With reinsurance backing from Munich Re, Chainproof aims to bridge the worlds of traditional insurance and decentralized finance (DeFi). The rapidly growing world of DeFi has over $70B of total value locked, a ... Read the full article

Munich Re syndicate backs new spot-cargo insurtech

11th July 2022

Munich Re Syndicate, the Lloyd's of London Marine & Specialty underwriter of reinsurance giant Munich Re, is set to back MiKargo247.com, a new insurtech, created specifically for one-way, spot-cargo freight. MiKargo247.com will aim to provide freight brokers, 3PLs and motor carriers with access to insurance that protects cargo and helps it ... Read the full article

Munich Re will adjust to climate change to supply nat cat cover – Goldman

6th July 2022

Munich Re has a “strong appetite for nat cat” and believes they have the skills and capabilities to write it, according to a statement by Goldman Sachs, following a management meeting on June 30th.  However, investors have questioned whether reinsurance companies should decrease natural catastrophe exposure ... Read the full article

WTW adds Munich Re & AXA Climate as capacity providers for expanded reef project

5th July 2022

WTW, along with the Mesoamerican Reef Fund (MAR Fund) and the InsuResilience Solutions Fund has appointed Munich Re and AXA Climate as the insurance capacity providers that will support the MAR Insurance Programme, a central pillar of MAR Fund’s Reef Rescue Initiative. Using a model designed by WTW that captures the ... Read the full article

Munich Re appoints Surbhi Goel to lead P&C business in Singapore & Southeast Asia

1st July 2022

Reinsurance giant Munich Re has announced that Surbhi Goel, Managing Director and Head, Property & Casualty (P&C), will lead their P&C business in Singapore & Southeast Asia. In addition to this new role, Goel will report to Roland Eckl, Chief Executive – Japan, India, Korea, Singapore and Southeast Asia. Goel’s appointment is ... Read the full article

Munich Re names new CEO in Singapore

30th June 2022

Global reinsurer Munich Re has appointed Tobias Frenz as the new CEO of its Singapore office. According to the firm, Frenz will be responsible for overseeing Munich Re’s Non-Life and Life & Health Branch in its Singapore regional centre as well as its Life & Health Digital Solutions business in the ... Read the full article

Munich Re implements new surety solution

28th June 2022

Munich Re Specialty Insurance has implemented into production Bond-Pro’s Next Gen surety solution, according to the firm. In a statement, it said that it was bolstering its technology infrastructure with a best-in-class surety automation solution cloud offering via Bond-Pro’s SaaS platform. Munich Re Specialty Insurance reportedly began offering contract and commercial surety ... Read the full article

Munich Re Specialty Group NA promotes Rzeszutko to SVP, Marine Underwriting

27th June 2022

Munich Re Specialty Insurance, a division of German reinsurance giant Munich Re, has promoted Karen Rzeszutko to a new leadership role at Munich Re Specialty Group, North America (MRSG N.A.). Making the announcement on LinkedIn, Munich Re Specialty Insurance said that Rzeszutko has been appointed as Senior Vice President, Marine Underwriting. Within this ... Read the full article

Munich Re best positioned for US storm season – JP Morgan

24th June 2022

Munich Re is best positioned to deal with the seasonal underperformance typically experienced by European reinsurers during the Atlantic hurricane season, according to JP Morgan.  Munich Re and Swiss Re typically have the largest share of hurricane losses among the European reinsurers. Munich Re and Swiss Re ... Read the full article