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Munich Re news

News on one of the world’s largest reinsurance companies Munich Re.

Munich Re is a leading global reinsurance company and our news covers its announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews.

Munich Re’s HSB acquires new SMB-focused cybersecurity platform

22nd October 2021

Munich Re-owned specialty insurer HSB has acquired a digital cybersecurity platform from cybersecurity firm Zeguro, including a suite of management tools and services designed for small businesses. The addition of Zeguro’s cyber safety solution and key personnel is expected to strengthen the overall cybersecurity offering of HSB. The platform offers integrated online ... Read the full article

Munich Re announces Bernd & Ida losses of €1.8bn in Q3

19th October 2021

For Q3 2021, global reinsurance giant Munich Re has pre-announced losses of roughly €600 million from the impacts of windstorm Bernd in Europe in July, and losses of around €1.2 billion from Hurricane Ida in the U.S. The cost of Bernd, which resulted in severe flooding and flash floods in Germany ... Read the full article

Munich Re expects to see considerably higher reinsurance rates in Europe

18th October 2021

Global reinsurer Munich Re is anticipating continued reinsurance market hardening in Europe at the January 1st, 2022 renewals, while major losses and inflation trends suggest more pricing discipline. "Rising prices for various assets and the latest major losses make considerably higher reinsurance rates in Europe likely," said Doris Höpke, Member of ... Read the full article

Abu Dhabi’s ADQ acquires remaining 20% of Munich Re’s Daman

14th October 2021

Abu Dhabi-based ADQ, one of the region’s largest holding companies, has entered into an agreement to acquire the remaining 20% equity stake of The National Health Insurance Company – Daman – PJSC, from Munich Re. As a partner to ADQ, Munich Re will continue in its capacity as the company's reinsurer. Since ... Read the full article

Munich Re Ventures announces new $500mn startup investment fund

12th October 2021

The venture capital arm of Munich Re Group has closed a new $500 million fund established to invest in early/growth stage companies across five strategic sectors: insurance and climate technology, cybersecurity and privacy, commercial and industrial equipment tech, and future of transportation. Munich Re Ventures now has over $1 billion in ... Read the full article

Swiss Re and Munich Re rule out backing for Australian coal mutual

8th October 2021

Swiss Re and Munich Re have ruled out support for a controversial mutual fund proposed for the Australian coal industry due to their climate and coal policies would rule out their involvement in the scheme. The coal industry mutual fund has been touted as a potential solution to the insurance challenges ... Read the full article

Munich Re’s Digital Partners names Courtney Hill President, North America

5th October 2021

Munich Re-owned insurtech Digital Partners has announced the appointment of Courtney Hill as President, North America. Hill will report to Mike Kerner, the Chief Executive Officer of Munich Re Specialty Insurance. Prior to joining Digital Partners in 2018 she worked for three other large insurance carriers in various capacities, including field underwriter, ... Read the full article

Munich Re revises insurance underwriting terms

5th October 2021

According to the Times of India, Munich Re has revised its terms for supporting the reinsurance programs of insurance companies. The publication stated that Munich Re has also proposed to raise its rates by as much as 50%. The increase wouldn’t het fully reflected in term insurance premium as only a ... Read the full article

Storebrand adopts Munich Re’s ALLFINANZ NOVA

30th September 2021

Munich Re Automation Solutions’s platform ALLFINANZ NOVA has been selected to automate Storebrand Livsforsikring AS (Storebrand)’s life insurance underwriting process. Storebrand has also implemented the Underwriter Workbench and Insight Data Analytics services from Munich Re, analysing the questions that are fed through NOVA to identify ways to increase the straight-through-processing rate. Storebrand ... Read the full article

Munich Re’s HSB launches cyber coverage in Canada

24th September 2021

HSB Canada, part of Munich Re, has introduced a new collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. HSB Cyber Suite is a cyber reinsurance solution for property-casualty insurers, including underwriting, marketing support, 24/7 claim service, and ... Read the full article

Munich Re and EDF Renewables take stakes in Cali energy projects

21st September 2021

EDF Renewables North America (EDFR) and MEAG, acting in its capacity as Munich Re’s global asset manager, have announced a strategic investment that will see a subsidiary of Munich Re acquire a 50% stake in two renewable energy projects in California. The projects are located adjacent to one another in Riverside ... Read the full article

Munich Re backs energy storage systems provider ESS

17th September 2021

ESS, a manufacturer of low-cost and long-duration energy storage systems, has secured an investment from reinsurance giant Munich Re, allowing for expanded coverage of its Energy Center. The policy provides a warranty backstop for ESS’s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project ... Read the full article

We have to come back to doing the job of the underwriter: Munich Re’s Golling

14th September 2021

The focus on underwriting and discipline of traditional reinsurance players is what drives rates, not so much alternative capital or secondary perils, according to Stefan Golling, Member of the Board of Management at Munich Re. Yesterday, Munich Re hosted its annual insurance-linked securities (ILS) Roundtable as part of the 2021 rendez-vous ... Read the full article

Munich Re’s HSB adds Mathew Prentice as Cyber Product Lead

8th September 2021

Munich Re-owned specialist engineering and technology insurer HSB has added Mathew Prentice to support its computer and cyber product range offering. Prentice will be responsible for the development and implementation of HSB’s underwriting strategy for the computer and cyber account in the UK and Ireland. Based in Birmingham and reporting to Andy ... Read the full article

Reinsurance market environment is positive, but pricing must stay in place: Munich Re’s Jeworrek

7th September 2021

Overall, the re/insurance market environment is "very positive", but in order for the industry to be able to cover rising losses from natural catastrophes, it's "absolutely necessary that we keep this price level in place," according to Dr. Torsten Jeworrek, Munich Re's Chief Executive Officer (CEO) of Reinsurance. Global reinsurer Munich ... Read the full article

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