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Reinsurance News

Munich Re

Munich Re makes key Business Development hire for Australia & NZ

27th November 2019

Munich Re has announced the appointment of Alex François as Head of Business Development for its savings and investment business in Australia and New Zealand. Based in Sydney, François will focus on bringing reinsurance capabilities to insurance and superannuation clients in the Australian and New Zealand market. He will also be responsible ... Read the full article

Munich Re expecting hit from Hagibis, but confident in targets

27th November 2019

Reports suggest that Munich Re is expecting to incur a large financial hit in Q4 from Typhoon Hagibis and other catastrophe events, but has nevertheless grown more confident that it will meet its targets for the year, as well as in 2020. Speaking at a press event in Munich on Monday, ... Read the full article

Munich Re more interested in primary insurer acquisitions

26th November 2019

Joachim Wenning, Chief Executive Officer (CEO) of reinsurance giant Munich Re, has said that the company is currently more interested in looking at acquisitions of primary insurers, according to reports from German newspaper Welt. Speaking at an event on Monday evening in Munich, Wenning said that acquisitions of reinsurance firms seemed ... Read the full article

Munich Re completes $200mn oil & gas securitized financing

22nd November 2019

A subsidiary of global reinsurance giant Munich Re, Munich Re Reserve Risk Financing, Inc., has announced the completion of a $200 million securitized financing with Diversified Gas & Oil plc, a U.S. domiciled owner and operator of natural gas, natural gas liquids, oil wells, and midstream assets. Under the terms of ... Read the full article

Munich Re-backed Vouch Insurance raises $45mn in funding

21st November 2019

Vouch Insurance, a platform backed by Munich Re that offers business insurance for start-ups, has secured $45 million of funding in a Series B investment round, led by Y Combinator Continuity. At the same time, Vouch has announced its launch in California, following its initial authorisation in Utah and Illinois ... Read the full article

Munich Re-backed start-up Next Insurance hires execs from Fitbit & Yelp

20th November 2019

Next Insurance, the digital insurtech firm backed by Munich Re, has announced the appointments of former Fitbit executive Melanie Chase as Chief Marketing Officer and former Yelp executive Effi Fuks Leichtag as Chief Product Officer. Next Insurance provides digital small business insurance coverage across the US to over 1,000 types of ... Read the full article

Munich Re, Abu Dhabi wealth fund in $900m NYC real estate deal, reports

20th November 2019

German reinsurance giant Munich Re is set to pay the Abu Dhabi sovereign wealth fund between $850 million and $900 million for its 40-story office building at 330 Madison Avenue, New York, according to reports from The Real Deal. The Abu Dhabi Investment Authority (ADIA) had supposedly seen its initial $800 ... Read the full article

Munich Re Syndicate to leverage ClimaCell’s exclusive weather data

14th November 2019

Reinsurance giant Munich Re's specialist Lloyd's of London Syndicate, Munich Re Syndicate, has entered into a new partnership with weather technology firm, ClimaCell. The partnership follows a successful trial through the Lloyd's Lab and sees Munich Re Syndicate leverage ClimaCell's exclusive weather data to provide clients with actionable insights regarding the ... Read the full article

Munich Re, US promotes Oliver Horbelt to CFO

12th November 2019

Munich Reinsurance America, Inc. (Munich Re, US), the U.S. operations of global reinsurance giant Munich Re, has announced the appointment of Oliver Horbelt as its new Chief Financial Officer, effective November 1st, 2019. In his new role, Horbelt will report to Tony Kuczinski, President and Chief Executive Officer (CEO) of Munich ... Read the full article

Munich Re surpasses Q3 profit prediction, eyes full year target

7th November 2019

Reinsurance giant Munich Re expects to surpass its initial profit and revenue targets overall for 2019 and has reported a third quarter profit of €865 million, up from €483 million in the prior year quarter. This profit represents an increase on the firm’s previous €850 million prediction for the quarter and ... Read the full article

Munich Re’s ERGO strengthens presence in China

29th October 2019

ERGO, the primary insurance arm of reinsurance giant Munich Re, has signed a "strategic partnership agreement for insurance business" with innovative, China-based automobile manufacturer, Great Wall Motors. The agreement was completed by ERGO board members Markus Rieß and Karsten Crede, and is embedded in the organisational structure of ERGO China, although ... Read the full article

Munich Re sees new possibilities for managing risk in data & AI

21st October 2019

Reinsurer Munich Re sees data analytics and artificial intelligence as key tools to open up new possibilities for managing and covering risk, and for supporting insurers across the entire value chain. “At Munich Re, our goal is to pioneer digital solutions for the insurance industry,” said Doris Höpke, Member of the ... Read the full article

Munich Re US names Juan Herrera as Head of Diversity & Inclusion

18th October 2019

Munich Reinsurance America, Inc. (Munich Re US), a subsidiary of reinsurance giant Munich Re, has announced the appointment of Juan Herrera as its first full-time Head of Diversity & Inclusion. Based in Princeton, New Jersey, Herrera will report to Brian Viscusi, U.S. Regional Head of Human Resources. He will be tasked with ... Read the full article

Munich Re announces €850mn result in Q3 despite cats

18th October 2019

Despite the costly impacts of catastrophe events in the period, global reinsurance giant Munich Re produced a consolidated result of approximately €850 million in the third-quarter of 2019. The German reinsurer states that the Q3 result is driven by good operational performance, strong currency gains, and a very good investment result, ... Read the full article

Swiss Re, Munich Re may exceed Q3 cat budgets: analysts

16th October 2019

Global reinsurers Swiss Re and Munich Re may exceed their large loss budgets for Q3 2019, and may be at risk for Q4, according to analysis by Barclays. Meanwhile, London market players such as Hiscox may consider the impact in Japan substantial enough to warn the market. Overall, analysts expects all large ... Read the full article

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