Reinsurance News
11th September 2017
In the middle of the 2017 hurricane season weather conditions are causing high intensity storms and hurricanes to form in the Atlantic basin, and with the industry still waiting for the tally from Harvey and now Irma, reinsurers will have to go into renewals under a cloud of "uncertainty." Speaking at ... Read the full article
7th September 2017
Drover and Munich Re’s Digital Partner have partnered to offer ride-sharing drivers and fleet owners bespoke insurance. Clients will be able to buy, renew and maintain policies online through Drover’s online car marketplace platform. Felix Leuschner, CEO and co-founder of Drover, said; "This partnership between Drover and Munich Re will deliver game-changing ... Read the full article
25th August 2017
As hurricane Harvey continues its track towards the state of Texas as a Category 2 storm, expected to intensify to a Category 3 storm as it makes landfall late Friday or early Saturday, the expected loss remains uncertain. However, J.P. Morgan expects roughly 50% of the insured loss to be ... Read the full article
25th August 2017
Munich Re has expanded its energy investment portfolio with the purchase of 49% of Starwood Energy Group's interest in two Texas wind farms, likely as a diversifying investment for its asset-side operations. The energy focused private investor, Starwood Energy, sold its interests in the Horse Creek and Electra wind farms in Haskell and ... Read the full article
25th August 2017
JLT and Munich Re have announced a partnership to develop and offer an innovative parametric insurance cover, One Storm, for typhoon and tropical cyclone risk in the Philippines. The typhoon cover allows risk holders to outsource typhoon risks that had previously been uninsurable such as loss prevention costs, overtime costs, revenue losses, ... Read the full article
22nd August 2017
Long term care administrator, LTCG, has announced that it will acquire LifePlans, Inc. and its Canadian unit, LifePlans LTC Services, Inc., in a deal that covers the purchase of LifePlans' long term care and related risk management services and assets from Munich Re, U.S. (Life). Under the definitive agreement, Munich Re, ... Read the full article
22nd August 2017
Global reinsurer Munich Re and In-Q-Tel, Inc. have signed strategic agreements with epidemic risk modeller, Metabiota, which has announced the launch of the industry's first commercial risk modelling platform and preparedness index for epidemic risks. One of the world's largest reinsurance companies, Munich Re, and In-Q-Tel, an investor that focuses on ... Read the full article
21st August 2017
Munich Re's syndicate at Lloyd's of London has expanded its cyber solutions to include cyber exposure cover for the independent oil and gas sector, which goes beyond traditional data breaches to cover physical losses or expenses associated with cyber-attacks. The operational and financial complexity of this particular sector presents growing threats to ... Read the full article
17th August 2017
With the peak of the Atlantic hurricane season approaching uncertainty remains for European reinsurers driven by the potential for large losses, but with annual catastrophe budgets being relatively high, only the most severe loss event would start a turn in the market, according to RBC Capital Markets. Based on historical data, September ... Read the full article
14th August 2017
As a flurry of InsurTech and FinTech startups continue to enter the global insurance and reinsurance industry, undoubtedly some will be very good and should be promoted for the industry, however, they will not be able to disrupt the entire risk transfer space, according to Torsten Jeworrek, Munich Re's Chief ... Read the full article
10th August 2017
AMP has announced a series of new reinsurance agreements to release about AUS$500 million as part of a strategy to reduce capital held by the Australian wealth protection business, and to reduce future earnings volatility. The new reinsurance arrangements include Gen Re and Munich Re increasing their reinsurance cover share, and ... Read the full article
9th August 2017
Reinsurance giant Munich Re reported a decline in its second-quarter profits this morning, as lower reinsurance profitability eclipsed improved performance in its Ergo primary division. However the reinsurer beat analyst expectations and remains on track for its 2017 targets. Pressures in the reinsurance market continue to be evident in the largest ... Read the full article
4th August 2017
Mexico has secured $360 million of protection against earthquake and tropical cyclone risks via a catastrophe bond transaction from the World Bank, which has now completed. The deal is structured into three tranches, with one providing protection against Mexico earthquakes, one against Atlantic tropical cyclones, and one providing coverage against Pacific ... Read the full article
26th July 2017
More earthquakes in New Zealand could see commercial building owners struggle to find adequate, effective and affordable insurance protection for the risk, warns Munich Re's Scott Hawkins. General Manager, Non-life, Munich Re Australasia, Hawkins, warned of the risks during a speech at a recent building industry conference held in Wellington, New Zealand, according ... Read the full article
21st July 2017
Munich Re is expected to record increased first-half 2017 profits of roughly €1.45 billion (US$1.67 billion) driven by a strong Q2, which suggests the reinsurer is on track to meet its full-year 2017 €2 billion - €2.4 billion (US$2.31 billion - US$2.66 billion) net profit ambition, according to analysis from J.P. ... Read the full article
