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Reinsurance News

Munich Re

Munich Re committee nominates von Bomhard as Chair of Supervisory Board

18th October 2018

The Nomination Committee of German reinsurance giant Munich Re has recommended that former Chief Executive Officer (CEO) Nikolaus von Bomhard be nominated for election as Chairman of the company’s Supervisory Board. If elected, von Bomhard would take over the role of Chairman from Bernd Pischetsrieder, who is not standing for re-election ... Read the full article

Munich Re subsidiary acquired by Cincinnati Financial for £102m

12th October 2018

MSP Underwriting, a global specialty underwriter and Munich Re subsidiary, has been acquired by Cincinnati Financial Corporation for an all-cash transaction of £102 million. Based on MSP’s projected net asset value at closing, the deal will see the firm become a wholly-owned subsidiary of Cincinnati Financial and will continue to operate ... Read the full article

Munich Re’s profit forecast raised by analysts

11th October 2018

Analysts at J.P Morgan have raised reinsurer Munich Re’s fiscal year net profit forecast from €2.561 billion to €2.725 billion ($2.953 billion to $3.142 billion) following above-expected net profits in H1 2018. Munich Re reported €1.5 billion net profits in H1, well above the €1.1 billion to €1.2 billion run rate ... Read the full article

Munich Re’s BI&I to launch home cyber coverage in Canada

4th October 2018

The Boiler Inspection and Insurance Company of Canada (BI&I), a subsidiary of reinsurer Munich Re, has announced the launch of a new personal lines cyber insurance product for consumers in Canada, called Home Cyber Protection. The product will offer a suit of coverages and services for cyber attacks, cyber extortion, online ... Read the full article

Munich Re partners with eDriving InsurTech on commercial fleet risk reduction

3rd October 2018

Munich Reinsurance America, Inc. (Munich Re) has partnered with online driver training provider and global risk management firm eDriving to offer companies with commercial fleets a driver risk reduction program. eDriving warranties that organisations will reduce the number of collisions by at least 20% in the first program year or the ... Read the full article

Munich Re names Mari-Lizette Malherbe as CEO of UK life business

1st October 2018

Munich Re has appointed Mari-Lizette Malherbe as Chief Executive Officer (CEO) of Munich Re London (Life Branch), the company’s UK & Ireland life reinsurance business, succeeding outgoing CEO Andy Batley. Malherbe has over a decade of international experience in the reinsurance industry and joined the senior management team of Munich Re ... Read the full article

Munich Re targets consistent growth trajectory, even at flat pricing

28th September 2018

Global reinsurance firm Munich Re is expected to continue to grow its portfolios of life and particularly non-life business over the next decade, as it aims for a larger market share even though it expects relatively flat pricing in the short-term. Munich Re wants to jump from the roughly 6% U.S. ... Read the full article

Munich Re’s HSB Engineering appoints two senior underwriters

27th September 2018

HSB Engineering Insurance, a specialist engineering and construction insurer and Munich Re subsidiary, has appointed John Nicholls and Jamie Talbot to new senior underwriting positions within the business. Nicholls has been promoted to Construction Product Lead within the Underwriting Strategy and Standards team, reporting to Andy Bazley, Underwriting Strategy Manager. He has ... Read the full article

Munich Re develops new cyber reinsurance solution for SMEs

26th September 2018

Munich Reinsurance America, Inc. (Munich Re) has developed a new reinsurance solution for U.S property and casualty (P&C) insurance carriers seeking to provide cyber coverage to their small and medium-sized enterprise (SME) clients. The new cyber solution will provide reinsurance capacity for limits up to $15 million, as well as technical ... Read the full article

Munich Re’s HSB joins LoRa Alliance in push for IoT standardisation

20th September 2018

The Hartford Steam Boiler Inspection and Insurance Company, a subsidiary of reinsurance giant Munich Re, is to become a contributor member of the LoRa Alliance. The LoRa Alliance is a non-profit association dedicated to the standardisation of low power wide area networks (LPWAN); a technology that enables long-range, wireless connectivity between ... Read the full article

Munich Re partnership lays down Hyperloop safety & certification guidelines

18th September 2018

German reinsurance giant Munich Re has partnered with certification and inspection company TÜV SÜD and Hyperloop Transportation Technologies on the first set of Hyperloop core safety requirements and certification guidelines as well as the first insurance framework for HyperloopTT worldwide systems. Hyerpool TT is an American research company aiming to develop ... Read the full article

Re/insurers risk irrelevancy by ignoring cyber, say Munich Re heads

9th September 2018

The re/insurance industry is at risk of becoming irrelevant if it avoids the challenge of tackling cyber risk, which also remains an area with huge growth potential, according to senior executives at German reinsurance giant Munich Re. Speaking at a media conference on the first day of the Rendezvous event in Monte ... Read the full article

Munich Re moves top in A.M. Best’s 2018 reinsurance rankings

5th September 2018

Munich Re has recovered the No. 1 position from Swiss Re in A.M. Best’s annual ranking of the Top 50 Global Reinsurance Groups, which also saw Warren Buffett’s Berkshire Hathaway climb two places to No. 3, pushing Hannover Rück SE and SCOR SE to the four and five spots respectively. Read the full article

Munich Re acquires tech firm relayr in IoT push

4th September 2018

Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article

Munich Re Specialty hires two to lead Americas underwriting team

30th August 2018

Munich Re Specialty Group (MRSG), a division of reinsurance giant Munich Re, has appointed Steven Weiss and Ben Tucker to lead its expanding underwriting team in the Americas. Weiss has been named Senior Vice President (SVP)/Chief Underwriting Officer (CUO) of Ocean and Inland Marine Insurance. He brings 28 years’ experience as ... Read the full article

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