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Munich Re

Munich Re collaborates with DXC Technology to enhance cyber services

11th December 2018

Global reinsurance giant Munich Re has selected DXC Technology to provide post cyber-attack services and expertise to insurance companies across the Asia Pacific. Under the new partnership, insurers stand to benefit from industry-leading experience and extensive service networks. The partnership sees Munich Re provide clients with holistic risk management solutions, designed to ... Read the full article

Munich Re puts 2018 insured typhoon losses at $9.5bn, Jebi at $6bn

7th December 2018

Munich Re has estimated that insured losses from typhoons in the Northwest Pacific are likely to total $9.5 billion for 2018, of which $6 billion is attributable to Typhoon Jebi, which made landfall in Japan on September 4. The loss estimate for Jebi is substantially higher than figures provided by the ... Read the full article

Munich Re estimates insured Michael losses at $10bn, Florence at $4bn

5th December 2018

Hurricanes Michael and Florence, which battered the east coast of the U.S earlier this year, are likely to have caused insured losses of $10 billion and $4 billion, respectively, according to new estimates from reinsurance giant Munich Re. Insured losses from Hurricane Michael represent 60% of a total economic loss of ... Read the full article

With cyber risk, market players need to create as much transparency as possible: Torsten Jeworrek

9th November 2018

Attempting to tackle the growing cyber risk landscape through just insurance and reinsurance expertise will have limited results, says Munich Re's Torsten Jeworrek, while at the same time calling on market participants to create as much transparency as possible when it comes to cyber risks. Member of the Board of Management ... Read the full article

Anti-fraud start-up Fraugster raises $14mn in funding, backed by Munich Re

8th November 2018

Fraugster, a software company that uses artificial intelligence (AI) to prevent fraud for online retailers, has raised $14 million in a Series B funding round that saw participation from HSB Ventures, the venture capital arm of global reinsurer Munich Re. Munich Re announced in April that it had agreed to ... Read the full article

Munich Re closes on full-year profit target after less profitable Q3

7th November 2018

Reinsurance giant Munich Re has nearly reached its full-year profit target for 2018 after the first nine months of the year, however its Q3 results were hit by catastrophe losses and profitability was boosted by reserve releases during the period. Munich Re has reported profit of €2,038m for the first nine ... Read the full article

Chubb partners with Munich Re’s HSB on IoT services

2nd November 2018

Global insurer Chubb has entered into a partnership with Munich Re’s Hartford Steam Boiler Inspection and Insurance Company that will provide the firm’s policyholders with access to Internet of Things (IoT) technology for homes and businesses. The IoT sensors and devices will target the threat of water damage by monitoring for ... Read the full article

Munich Re backed insurtech Ethos raises $35mn in funding

31st October 2018

Ethos, a life insurtech start-up backed by Munich Re and Assurity Life, has raised an additional $35 million in funding from a Series B financing round, led by venture capital firm Accel. Additional investors included Google Ventures (GV), previous investors Sequoia Capital and Arrive, a subsidiary of Roc Nation, and a ... Read the full article

Munich Re expands Plug and Play insurtech partnership to China

29th October 2018

Munich Re has entered into a strategic partnership as a Founding Anchor Partner of Plug and Play China, the Chinese business of Plug and Play, a global start-up accelerator and corporate innovation platform. Plug and Play, which is headquartered in Silicon Valley, enables corporations to engage with start-ups that may complement their ... Read the full article

Munich Re America partners with BriteCore on inland personal flood coverage

25th October 2018

The U.S branch of global reinsurance firm Munich Re is to offer inland personal lines flood coverage to its insurance carriers and agency partners that use BriteCore, a web-based insurance administration platform. The endorsement from Munich Re America is available to homeowners who live outside of a Special Flood Hazard Area ... Read the full article

Munich Re’s HSB identifies rise in business email scam losses

24th October 2018

A new survey by The Hartford Steam Boiler Inspection and Insurance Company (HSB), a subsidiary of reinsurance giant Munich Re, has identified a rise in losses related to fraudulent business emails in the U.S. HSB found that 58% of business executives polled by cyber insurance and services provider Zogby Analytics said ... Read the full article

Brexit’s ‘closed market’ trend will hurt re/insurers: Munich Re’s Menhart

22nd October 2018

The UK’s decision to leave the European Union and withdraw from the Single Market may represent part of a global political trend towards ‘closed societies’ that is likely to negatively impact re/insurers in the long-term, according to Michael Menhart, Chief Economist at Munich Re. Speaking during a presentation at Lloyd’s last ... Read the full article

Munich Re preparing for “exponential” growth in cyber demand

22nd October 2018

Global reinsurance firm Munich Re has said that it is preparing for “exponential” growth in demand for cyber re/insurance coverage by developing updated, flexible solutions and exploring new technology-based partnerships. In a recent statement, the reinsurer noted that the cyber threat is developing rapidly alongside digitalisation efforts, and is a risk ... Read the full article

Gossmann launches innovative legacy product with Munich Re backing

19th October 2018

Arndt Gossmann, the founder and owner of Gossmann & Cie, has announced the establishment of Expiring Policy Roll-Over (working title), a product that, with Munich Re as a reinsurance partner, allows the ongoing transfer of insurance contracts expiring in the future to an external risk carrier. This enables insurers to release ... Read the full article

Munich Re’s Q3 catastrophe losses said to be within budget

19th October 2018

German reinsurance giant Munich Re was hit by large natural catastrophe losses during the third quarter of 2018, although claims are likely to remain within the company’s budget, according to sources at Reuters. The company also saw some losses related to claims from the Genoa bridge collapse in Italy, although these ... Read the full article

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