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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 names Scott Hawkins as Managing Director, Australasia

8th March 2021

Global reinsurer Munich Re has announced the appointment of Scott Hawkins to succeed Ralph Ronnenberg as Managing Director of Australasia, effective April 1st, 2021. In his new role, Hawkins takes on responsibility for overseeing the leadership and strategic steering of the firm's operations in Australia and New Zealand, as well as ... Read the full article

Munich Re to acquire third party administrator GroupHEALTH

8th March 2021

Munich Re, via its subsidiary Munich Re New Ventures (MRNV), has announced plans to acquire Group Health Group Holdings, Inc. (GroupHEALTH), one of the largest third party group insurance administrators in Canada. MRNV will increase its stake in GroupHEALTH from its existing 40% interest to owning 100% of the company. Following the ... Read the full article

Munich Re, AGCS & Google Cloud partner on cyber insurance solution

2nd March 2021

Munich Re, Allianz Global Corporate and Specialty (AGCS) and Google Cloud have announced a collaboration designed to provide customers with increased cloud security and potentially bring down costs. The Risk Protection Program builds on Google Cloud's engineered-in security toolset and consists of two parts. First, a diagnostic tool called Risk Manager enables ... Read the full article

Munich Re partners with Helvetia Seguros on digital life underwriting solution

2nd March 2021

Munich Re Automation Solutions, part of the global reinsurance group, has entered into a new partnership with Helvetia Seguros to implement an innovative digital underwriting solution for the Spanish life insurance market. The technology, which has been developed by Munich Re Automation Solutions, will enable Helvetia Seguros' intermediaries to offer streamlined ... Read the full article

Pool Re wraps up £2.5 billion terrorism retrocession placement

25th February 2021

UK government-backed terrorism reinsurer Pool Re has secured the placement of its three year, £2.475 billion retrocession programme involving 56 global reinsurers. Munich Re led the placement along with Hannover Re and Fidelis, both of who provided significant capacity. The retrocession covers property damage arising from nuclear, biological, chemical, and radiological attacks ... Read the full article

Munich Re backs new motor insurtech by Sun Capital & former Aviva CEO

25th February 2021

Reinsurer Munich Re has agreed to back the launch of a new insurtech firm created by specialist private capital provider Sun Capital Partners and former Aviva CEO Mark Wilson. The insurtech firm, called Abacai, will initially focus on the UK motor insurance market and will invest an initial £50m in the ... Read the full article

Munich Re’s profit falls in 2020; P/C combined ratio deteriorates on major losses

25th February 2021

German reinsurer Munich Re has reported profit of €1.211 billion and €212 million for the full-year and fourth-quarter 2020, respectively, in spite of a substantial level of claims related to major losses and the ongoing COVID-19 pandemic. For the year, profit fell from the more than €2.7 billion reported a year ... Read the full article

Munich Re appoints new L&H leader for Southeast Asia

17th February 2021

Munich Re has announced the appointment of Aravind Srinivas as Managing Director Life and Health for the Southeast Asia region. He takes over the role from Tobias Frenz, who will now become Head of Digital Solutions, Life and Health, Asia Pacific, Middle East and Africa. Srinivas was previously the Chief Commercial Officer ... Read the full article

Insurtech Foxquilt partners with Munich Re subsidiary

28th January 2021

Insurtech Foxquilt has partnered with Munich Re subsidiary Digital Partners on end-to-end insurance products and programs for small businesses. This Digital Partners collaboration provides the Foxquilt team with the autonomy and capabilities to design products and underwriting and rating algorithms. Foxquilt's Foxden underwriting platform is comprised of data-layered, micro-service architecture. Each of its ... Read the full article

Olympics cancellation loss could be “mind-blowingly large”, say reports

27th January 2021

Global insurers and reinsurers are facing a loss of up to as much as $3 billion if the rescheduled Tokyo Olympics are cancelled, according to reports. At a loss of between $2 billion - $3 billion, cancellation of the event would drive the largest ever claim in the global event cancellation ... Read the full article

Munich Re hails Augmented Automated Underwriting (AAU)

27th January 2021

A new report by Munich Re unit Munich Re Automation Solutions has hailed Augmented Automated Underwriting (AAU) as a technology that will revolutionise customer experience in the re/insurance industry. Specifically, the paper examines how AAU builds on and evolves previous technology investments and implementations, and whether the technology is the inevitable destination ... Read the full article

Munich Re backs smart home tech firm Span

26th January 2021

Reinsurer Munich Re has led a funding round for smart home technology firm Span, raising $20 million to support growth and provide integrated energy solutions for homes. Span’s electrical panel enables users to monitor and control their home energy, promoting more convenient and sustainable living. Munich Re Venture’s HSB Fund was joined ... Read the full article

Munich Re US President & CEO to retire in 2021; successor named

12th January 2021

M. Steven Levy, the President and Chief Executive Officer (CEO) of Munich Reinsurance America, Inc., a subsidiary of global reinsurer Munich Re, is to retire in April of next year and be replaced by Marcus Winter. Effective April 1st, 2021, Levy will step down from the company after 23 years of ... Read the full article

Global insured nat cat losses up 44% in 2020 to $82bn: Munich Re

7th January 2021

A record hurricane season, historic wildfires in the western U.S. and a series of events in other parts of the world saw global, re/insured losses from natural disasters increase to $82 billion in 2020, which is approximately 44% higher than in the previous year, reports Munich Re. Economic losses from natural ... Read the full article

Munich Re Automation Solutions expands Sun Life collaboration

10th December 2020

Munich Re Automation Solutions Ltd, an insurtech specialist and part of the Munich Re Group, has expanded its relationship with Sun Life Financial Inc. Currently, Sun Life advisers and clients in Canada are leveraging Munich Re Automation Solutions' cloud and managed services. This new and expanded collaboration provides access to various modules ... Read the full article

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