Reinsurance News
24th July 2018
Munich Reinsurance America, Inc., a subsidiary of reinsurance giant Munich Re, has launched a new U.S commercial inland flood product aimed at small businesses and habitational properties located in low-to-moderate flood zones. The endorsement offers insurance protection for the building, contents (including business property in a basement), business interruption/extra expense, the ... Read the full article
24th July 2018
Munich Re member firm The Hartford Steam Boiler (HSB) has launched a new generation of its Sensor Systems solution; sensors and software that connect equipment and facilities through the Internet of Things (IoT). Delivered as a kit for commercial customers, the sensors use proprietary algorithms to help prevent loss and improve ... Read the full article
17th July 2018
Munich Re has announced that it intends to restructure and reallocate responsibilities on its Board of Management in order to improve business synergies and simplify structures and processes. The company said that the reorganisation will mean larger divisions and the reallocation of units, but no changes to the composition of the ... Read the full article
17th July 2018
Munich Re’s long-standing Chief Financial Officer (CFO) and Board of Management member Jörg Schneider is to step down at his own request on December 31st, 2018. Christoph Jurecka, who has served as CFO of Munich Re’s primary insurance subsidiary ERGO Group AG for the past seven years, has been announced as ... Read the full article
11th July 2018
A report by Munich Re has revealed fewer severe natural disasters across the first-half of 2018 saw overall losses fall to its lowest level since 2005, with insured losses down from 2017, while stressing that the later months may yet prove costly. The $33 billion total losses were roughly half those of ... Read the full article
6th July 2018
Reuters has reported that global reinsurance giant Munich Re is to continue underwriting coal business in spite of investor pressure to follow the likes of fellow reinsurers Swiss Re and SCOR. Swiss Re announced recently that is to begin implementing its thermal coal policy first announced in June 2017, which sees ... Read the full article
5th July 2018
Munich Re’s Chief Executive Officer (CEO), Joachim Wenning has highlighted the potential of new technologies and called for the insurance industry to “keep doing what it has been doing for centuries and remain innovative.” Speaking at the 45th General Assembly of the Geneva Association - a 90-member strong think tank designed ... Read the full article
4th July 2018
Analysts at J.P. Morgan have said that the decision of some re/insurers to reduce their exposure to more volatile lines of business, namely natural catastrophe exposures, and focus on other, more stable classes, will lead to better earnings visibility as well as a faster rerating. Focusing mostly on the actions taken ... Read the full article
3rd July 2018
The 2018 Tech Trend Radar report by Munich Re emphatically underlines the rate at which it expects new technologies to transform customers’ demands and expectations over the next two decades. This trend towards greater-connectivity is one that re/insurers must understand, accept and integrate into its framework into to secure longevity, says ... Read the full article
2nd July 2018
Deutsche Bank equity analysts have suggested that global reinsurance companies are unlikely to earn back 2017 catastrophe losses as a result of insufficient rate increases at the January, April and June renewals, with further disappointment expected through July. Deutsche Bank analysts recently met with management of global reinsurance giant Munich Re, ... Read the full article
28th June 2018
Munich Re has partnered with digital insurer ONE in the development of the new ONE Coach feature, a highly-personalised short-term insurance product based on individual lifestyle and location, in what it claims is the biggest joint-venture in Insurtech history. The feature will use encryption technology to utilise factors such as work ... Read the full article
25th June 2018
Munich Re's CEO Joachim Wenning told employees that it would "make no sense" for the firm to pull out of investment activities, but that a partnership with an asset manager could be positive, according to a report. Last week it was widely reported, including by us, that Munich Re was ... Read the full article
21st June 2018
Munich Re has partnered with MHP, a manufacturing consultancy firm and subsidiary of Porsche AG, and KUKA, a global automation corporation, on SmartFactory as a Service, a new manufacturing initiative designed to streamline product development and safeguard manufacturers from risks. The partnership aims to facilitate the testing and development of new ... Read the full article
21st June 2018
According to industry reports, Munich Re is rumoured to be in talks with U.S. fund manager Guggenheim Partners LLC about the sale of its asset management arm, Munich Ergo Asset Management GmbH (MEAG). The Wall Street Journal first reported that talks are at an early stage, and that it remains uncertain ... Read the full article
20th June 2018
American International Group, Inc. (AIG) has entered into an agreement to acquire Ellipse, a specialist provider of group life risk protection in the UK, from Munich Re. The acquisition will be funded by an undisclosed cash consideration, and will be conducted via AIG Life Ltd. (AIGLL), a UK subsidiary of AIG ... Read the full article
