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Reinsurance News

Munich Re

Time for reinsurance prices to stop falling and start rising: J.P. Morgan

27th March 2017

Munich Re's recently announced conservative and reduced profit guidance for 2017 suggests it's time for reinsurance prices to cease falling and start increasing, a trend that could be supported by the slowed entry of alternative capital and more moderated reserve releases across the industry, says J.P. Morgan. A recent note on ... Read the full article

Digitalisation & innovation to drive profitability: Munich Re

23rd March 2017

Outgoing Munich Re Chief Executive Officer (CEO), Niklaus von Bomhard, said in a recent conference on the reinsurer's earnings he was “absolutely sure” the company would improve as a result of the digitalisation revolution, referring to a double-pronged focus on innovation to drive profitability. Bomhard emphasized that innovation and digitalisation rewriting the ... Read the full article

Have to be “determined” to let business go: Munich Re CEO

21st March 2017

There's ample opportunity for insurers and reinsurers in emerging markets in both developed and developing countries, but it's important to be able to walk away from business where the margin simply isn't adequate in a softening landscape, according to outgoing Munich Re Chief Executive Officer (CEO), Nikolaus von Bomhard. During the ... Read the full article

Financial sector to incorporate risk prevention in regulatory schemes: UN

21st March 2017

In a recent interview with Munich Re, Robert Glasser, Special Representative of the United Nations' Secretary General for Disaster Risk Reduction and Head of UNISDR, highlighted initiatives underway to incorporate disaster risk management into the global regulatory environment. He said the UN was establishing links to global financial sectors, ... Read the full article

European reinsurers disciplined in a tough market: Fitch

17th March 2017

Large European reinsurers continued to show discipline in a very challenging marketplace and broader economic environment in 2016, as reserve releases declined and companies reported a reduction in renewed business, according to the latest European reinsurance market report from Fitch Ratings. The profitability of European reinsurers remained pressured throughout 2016, with Fitch ... Read the full article

Major reinsurers combined ratios over 100% on normalised basis: Fitch

16th March 2017

On a normalised basis major European reinsurers combined ratios were over 100% last year, but industry players benefitted from unusually favourable circumstances with lower-than-expected major losses and large prior year reserve releases meaning carriers maintained resilience in a tough market, according to Fitch. This normalised combined ratio rate of over 100% means under ... Read the full article

Munich Re board member Ludger Arnoldussen resigns

15th March 2017

Munich Re has announced the resignation of Board of Management member Ludger Arnoldussen, who will be leaving to seek new challenges after over ten years with the company. Arnoldussen's official resignation date is April 26, long-term company leader Hermann Pohlchristoph who's worked with Munich Re for the last 15 years, has been ... Read the full article

Conservative guidance given as Munich Re sets itself up for ongoing softness

15th March 2017

Global reinsurance giant Munich Re has delivered relatively conservative profit guidance for 2017, targeting a range of EUR 2 billion to EUR 2.4 billion, as it sets itself up to navigate expected challenges and softness in the market. The mid-point of the firms 2017 profit target is below the consensus expectation ... Read the full article

Munich Re Syndicate CUO, Hoare elected to the Council of Lloyd’s

9th March 2017

Dominick Hoare, the Chief Underwriting Officer (CUO) for the Munich Re Syndicate Ltd, has been elected unopposed as Corporate-External member to the Council of Lloyd's, effective April 19th, 2017. Representing Munich Re Capital Limited, Hoare will take up the seat until 31st January 2020. The seat was previously held by Catlin Syndicate ... Read the full article

Technology and getting closer to the risk key for Munich Re: Doris Höpke

8th March 2017

Doris Höpke, Munich Re’s Management Board member responsible for Special and Financial Risks, discussed notable trends in the reinsurance space, as well as strategies for negotiating the fast-changing market, in a recent interview with Höpke discussed the rise of insurtech, reinsurers increasingly moving closer to direct and primary sources of risk, ... Read the full article

Pool Re ups retro reinsurance protection to almost £2 billion

3rd March 2017

Pool Re, the UK government and industry backed terrorism reinsurance scheme, has increased the size of its retrocessional reinsurance program to almost £2 billion. In the last year Pool Re had £1.95 billion of retrocession in place, so the increase is not all that significant in terms of size, but it ... Read the full article

Premium volumes stagnant as global trade levels shrink: Munich Re

21st February 2017

Reinsurance giant Munich Re has pointed to how a two-year drop in global trade levels has hit insurance premium income, over fears this downturn could be exacerbated by an era of nationalism that pushes the globe towards economic decline. After several decades of global trade moving towards steady growth, 2015 and 2016 ... Read the full article

Hannover Re & Swiss Re take 90% of Sri Lankan agricultural re/insurance scheme

17th February 2017

Hannover Re and Swiss Re have taken a 90% share in Sri Lanka’s state-owned National Insurance Trust Fund (NITF) agricultural insurance scheme; accepting a respective 50% and 40% of the placement, which was made through reinsurance broker J.B. Boda & Co. Three other global reinsurers, which includes Munich Re, share the ... Read the full article

Munich Re’s insurer HSB hires construction product lead

15th February 2017

HSB Engineering Insurance (HSB), a specialist engineering and construction insurer and subsidiary of reinsurance giant Munich Re, has announced the appointment of Alan Moore as Construction Product Lead. Based in the company's Birmingham, UK office, Moore will report to HSB Underwriting Manager Andrew Bazley. In his new role Moore will be ... Read the full article

Australian insurers increasingly look to life reinsurance

9th February 2017

After numerous issues in the Australian life and health insurance business, primary companies are increasingly looking to life reinsurance opportunities, in order to transfer exposures from older business and to resolve capital issues. Industry wide deterioration in lapse rates and rising claims trends have both impacted the life and health business ... Read the full article

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