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Reinsurance News

Munich Re

Munich Re underlines microinsurance growth in Latin America & Caribbean

13th November 2017

Preliminary findings of a recent study on microinsurance across Latin America and the Caribbean (LAC), published by the Munich Re Foundation and the Microinsurance Network, highlights substantial growth in take-up rates in recent times, but warns that more must be done to enable the poorest and most vulnerable with access ... Read the full article

Munich Re falls to -€1.4bn Q3 loss, expects small full-year profit

9th November 2017

Reinsurance giant Munich Re has reported a third-quarter 2017 loss of -€1.4bn, reflecting the impact of high natural catastrophe losses that contributed over 70% to the reinsurers combined ratio. Munich Re said that the impacts of hurricanes Harvey, Irma and Maria would total €2.7 billion of losses, while its total major ... Read the full article

Munich Re’s Ergo to begin sale of life insurance businesses: Reports

30th October 2017

According to industry reports, Ergo, the primary insurance arm of reinsurance giant Munich Re, is moving forward with plans to sell the life insurance books of Ergo Leben and Victoria Leben. Citing a report in Handelsblatt daily, Reuters states that two people familiar with the matter have said that management within the entity ... Read the full article

Munich Re sees €3.2bn of hurricane and other losses for Q3 2017

26th October 2017

Reinsurance firm Munich Re has estimated that it will fall to a €1.4 billion loss for the third-quarter of 2017, as hurricanes Harvey, Irma and Maria, as well as other major losses including the Mexico earthquakes, are likely to cost the reinsurer €3.2 billion. But even this level of major loss ... Read the full article

SCOR reaches excess of loss reinsurance agreement with Iran’s Mellat Insurance

24th October 2017

France domiciled reinsurer, SCOR, has reached an agreement with Iranian insurer, Mellat Insurance, an affiliation of Bank Mellat, to provide the company with excess of loss reinsurance protection, according to reports. According to reports on Iranian online publication, Financial Tribune, SCOR will cover catastrophe losses related to Mellat Insurance's fire policies, ... Read the full article

“Disruption doesn’t bring opportunities, we have to earn them” – James Nash

23rd October 2017

“I believe there is substantial value creation potential in the future,” said Guy Carpenter's James Nash, at the Baden-Baden Reinsurance Symposium, “however, disruption does not automatically bring opportunities, we have to earn them. "We won't be able to capture this potential without transforming our industry and without extending our business models, ... Read the full article

Re/insurance clients need comprehensive risk management solutions: Munich Re

23rd October 2017

The recent hard-hitting natural catastrophes have emphasised the need for re/insurers to take a global view of risk management and offer clients more comprehensive solutions for risk mitigation and assessment, said Munich Re executives at the 2017 Baden-Baden industry conference. Hermann Pohlchristoph, member of Munich Re’s Board of Management, said; “the ... Read the full article

Munich Re’s Pina Albo named new CEO of Hamilton Insurance Group

19th October 2017

Bermuda domiciled Hamilton Insurance Group has announced that Pina Albo will join the company from reinsurance giant Munich Re, to become the firm's new permanent Chief Executive Officer (CEO) after the departure of Brian Duperreault. Albo will assume the CEO position from February 1st, 2018, and replaces Interim Group CEO, David Brown, ... Read the full article

Elon Musk’s Hyperloop insurable, says Munich Re

18th October 2017

Elon Musk's idea for super-fast transport, Hyperloop Transportation Technologies (HTT), a tube-based transportation system that propels capsules through a tube at high speed using magnetic levitation, has been deemed feasible and insurable by reinsurer Munich Re. HTT has been hailed has the next transportation breakthrough, powered by a combination of alternative ... Read the full article

Demand for BI & supply chain cyber coverage up, says Munich Re & Beazley

17th October 2017

Demand for holistic cyber cover for business interruption (BI) and supply chain risks has surged, report Beazley and Munich Re after having joined forces to offer complex cyber risk cover through their Vector partnership. "Since we established Vector, we’ve seen a significant shift in the pattern of demand for cyber cover," ... Read the full article

U.S. property cat reinsurance pricing to shift after recent events: Munich Re’s Steve Levy

11th October 2017

Over the last year or so some segments of the U.S. reinsurance market have shown signs of stabilisation in a prolonged softened market, that's underlined by ample capacity and persistent rate declines. And, after the impacts of recent hurricanes in the U.S., Munich Re's Steve Levy expects pricing trends to ... Read the full article

Munich Re & Swiss Re eager to penetrate Philippines crop market: Reports

4th October 2017

Global reinsurance giants Munich Re and Swiss Re are reportedly interested in investing in the Philippines crop programme, but changes are required to the charter of the Philippines Crop Insurance Corporation (PCIC) before this can happen, according to reports. According to industry reports, Bohol Rep. and former agriculture secretary, Arthur Yap, ... Read the full article

Munich Re reported close to selling some run-off ERGO life units

27th September 2017

Global reinsurance player Munich Re has been reported to be on the verge of offloading some of its primary life insurance units that are in run-off, with a legacy disposal or reinsurance to close transaction the most likely outcome. It's been reported in the German media and by Reuters that the ... Read the full article

Bestow partners with Munich Re to develop life insurtech platform

22nd September 2017

Bestow has partnered with the U.S. life and disability reinsurance division of Munich Re, Munich American Reassurance Company, to develop new life solutions for Bestow's on-demand life insurance platform. The partnership aims to leverage insurtech to redefine how the industry markets insurance through offering consumers a new way to research, buy, ... Read the full article

Munich Re expects Q3 loss, lower profits, on Harvey and Irma losses

14th September 2017

Reinsurance giant Munich Re said that it may have an unprofitable third-quarter and that its full-year profit target is now at risk due to the losses expected from hurricanes Harvey and Irma. The combination of the two events is expected to result in high insurance and reinsurance industry losses, Munich Re ... Read the full article

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