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Reinsurance News
8th January 2020
New data from reinsurer Munich Re estimates that natural catastrophes caused global economic losses of $150 billion in 2019, of which $52 billion was covered by re/insurance. Analysts noted that the insured portion of overall losses – slightly above 35% - was broadly in line with the average over the past ... Read the full article
6th January 2020
Global reinsurer Munich Re has announced the appointment of Serena Thio as Chief Executive Officer (CEO) of Munich Re Malaysia, effective January 6th, 2020. In her new role, Thio will report to Tobias Frenz, Munich Re's Managing Director of Life & Health for Southeast Asia, and will be tasked with leading ... Read the full article
19th December 2019
Munich Re has entered into a $500 million risk sharing framework agreement with FMO, the Dutch entrepreneurial development bank, to help promote private sector insurance growth in developing countries. The deal, which enables Munich Re to participate in FMO transactions over the next three years, will help maximise funds towards developing ... Read the full article
18th December 2019
Munich Re Group has confirmed earlier reports that it is in an agreement to acquire the 39-story 330 Madison Avenue high-rise building in New York City. Reinsurance News previously reported that the German reinsurance giant was in talks to buy the Manhattan building from the Abu Dhabi sovereign wealth fund ... Read the full article
16th December 2019
Theodoros Kokkalas is set to succeed Dr. Achim Kassow as Chairman of the Board of Management of ERGO Germany on 1 May 2020. Kassow, who has been with the group for over three years’, was announced recently as the succsseeor to Hermann Pohlchristoph. Kokkalas has been Chief Executive Officer of ERGO ... Read the full article
12th December 2019
Global reinsurance giant Munich Re has announced Hermann Pohlchristoph’s decision to depart from its management board on 30 April 2020. Pohlchristoph joined the reinsurer in 2002 before serving as its Chief Financial Officer of Reinsurance between 2006 and April 2017. He was appointed to Munich Re’s board in 2017, with responsibility for ... Read the full article
10th December 2019
HSB Engineering Insurance, the UK-based arm of Munich Re's Hartford Steam Boiler Inspection and Insurance Company, has announced the appointment of Terry Dyson as Director of Business Development and Distribution, effective immediately. In his new role, Dyson will be tasked with leading the firm's business development team with a focus on ... Read the full article
5th December 2019
Bestow, a Dallas, U.S. domiciled InsurTech company focused on the life insurance sector and which is backed by Munich American Reassurance Company as its reinsurer and in other capacities, has announced its executive team, to be led by co-founders Melbourne O'Banion and Jonathan Ablemann. In May of last year, Bestow ... Read the full article
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
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
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
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
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
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
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
