Reinsurance News
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 backs raicoon’s solar performance guarantee
5th June 2023
Munich Re has backed climate-tech pioneer raicoon's "industry-first" 100% fault detection guarantee with zero false alarms for solar energy operations. According to raicoon, this "groundbreaking" collaboration with Munich Re will empower the acceleration of the energy transition, increase the efficiency and profitability of solar asset management, and optimise resource use. The alliance ... Read the full article
Lloyd’s becomes the 10th major player to mark its exit from NZIA
30th May 2023
Lloyd's announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s, the insurance and reinsurance market in London, mentioned in a statement that it will ... Read the full article
QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
Republican AGs pen critical letter to NZIA members conveying “legal concerns”
18th May 2023
A consortium of Republican state attorneys general (AG) has penned a letter to insurers of the Net-Zero Insurance Alliance (NZIA) raising concerns about the legality of their commitments to collaborate with other insurers and asset owners in order to "advance an activist climate agenda." The targeted insurers are all NZIA members, ... Read the full article
Munich Re going as far as possible when it comes to catastrophe exposure: CFO Jurecka
17th May 2023
German reinsurance giant Munich Re achieved significant growth in its natural catastrophe book at increased prices at the April 1st, 2023, reinsurance renewals, with Christoph Jurecka, Chief Financial Officer (CFO), stating that the company will go as far as it can in this line of business amid hard market conditions. Read the full article
Munich Re’s Q1 2023 profit dips to €1.3bn as nat cats drive above-average losses
17th May 2023
Global reinsurer Munich Re has reported a net result of approximately €1.3 billion for the first quarter of 2023, down on the previous year (€1.5bn) as natural catastrophe events resulted in above-average losses for the firm, driven by the Turkey and Syria earthquake. Group-wide, insurance revenue from insurance contracts issued increased ... Read the full article
Munich Re’s Wenning praises firm’s portfolio diversification
9th May 2023
The reason that Munich Re has been able to perform well despite losses that are attributable to the war in Ukraine, ongoing inflation, and high market losses due to natural disasters, was portfolio diversification, according to Joachim Wenning, the Chair of the Board of Management. At the recent annual general meeting, ... Read the full article
Large losses to come in above budget for Europe’s big four reinsurers in Q1: BofA
3rd May 2023
Bank of America (BofA) estimates that European reinsurance results will fail to hugely impress against already-high expectations for the sub-sector, while analysts expect that all four major European reinsurance companies will have exceeded their Q1 large losses budget. The key factor for these losses according to the bank is natural disasters. ... Read the full article
Munich Re Specialty Group launches Green Solutions portfolio to support net-zero ambitions of clients
3rd May 2023
Munich Re Specialty Group, a division of reinsurance giant Munich Re, has launched Green Solutions, a range of insurance products and services designed to support the net-zero ambitions of its customers. The portfolio has been created to establish the group as a leading provider of commercial specialty and primary green insurance ... Read the full article
Munich Re warns of increasing cyber risk accelerated by AI, IoT, geopolitical conflict
2nd May 2023
Munich Re has warned that future cyberattacks will be accelerated by key technology trends such as artificial intelligence (AI), the "metaverse," and expanding IT, Internet of Things (IoT), and operational technology (OT) worlds. While these technologies offer great opportunities for society, businesses, and governments, they also create new attack surfaces, vulnerabilities, ... Read the full article
Munich Re achieves P&C reinsurance CR of 86.5% despite higher than expected major losses
28th April 2023
German reinsurance giant Munich Re has announced a property and casualty (P&C) reinsurance combined ratio of roughly 86.5% for the first quarter of 2023, despite major losses from natural catastrophe events trending higher than expected. A P&C reinsurance combined ratio of 86.5% for the quarter is only slightly higher than the ... Read the full article
Munich Re launches ‘innovative’ coverage for AI solutions
28th April 2023
Munich Re has launched aiSelf™, an "innovative" coverage for users who implement self-developed Artificial Intelligence (AI) solutions in their own companies. "This new cover enables you to mitigate the underperformance, unreliability and drift of machine learning models," Munich Re said. Munich Re provides insurance coverage to protect companies from potential financial losses ... Read the full article
RiskPoint Group partners with Munich Re to improve coverage for offshore wind industry
26th April 2023
RiskPoint Group's Renewable Energy team has partnered with Munich Re's Greentech Solutions Team to enhance coverage for offshore wind contractors, manufacturers, and suppliers. This partnership will bring together the global distribution and technical proficiency of RiskPoint with Munich Re's financial strength, due diligence capabilities, and product design expertise, resulting in a ... Read the full article
Hannover Re the latest to leave Net-Zero Insurance Alliance
19th April 2023
German reinsurance giant Hannover Re has, after careful consideration, opted to leave the Net-Zero Insurance Alliance (NZIA), making it the third high profile re/insurer to leave the UN-convened alliance in less than a month. Hannover Re joins NZIA founders Munich Re and Zurich in leaving the association, which was launched at ... Read the full article
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