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Munich Re news

News on one of the world’s largest reinsurance companies Munich Re.

Munich Re is a leading global reinsurance company and our news covers its announcements, people moves, results and financial performance, as well as analysis of reinsurance market trends and interviews.

Munich Re Specialty Insurance names new Senior Cyber Underwriter

11th January 2022

Munich Re Specialty Insurance, a division of German reinsurance giant Munich Re, has appointed Monica Tigleanu as Senior Cyber Underwriter, where she will be based in London. Tigleanu has previously worked for Munich Re as a consultant back in 2018, where she held the position for five months. Back in September ... Read the full article

Munich Re calls for urgency as re/insured nat cat losses hit $120bn in 2021

10th January 2022

Globally, the impacts of natural disaster events in 2021 cost the economy a huge USD 280 billion, of which reinsurer Munich Re says approximately USD 120 billion, or 43% were covered by re/insurance protection. The USD 120 billion total is above some other estimates for the year, including Swiss Re's USD ... Read the full article

Munich Re treating climate as systemic risk: analysts

13th December 2021

Analysts at Peel Hunt have noted that Munich Re now appears to be treating climate change as a systemic risk for the re/insurance industry, amid an ongoing rise on the probability of extreme weather events. Last week, Munich Re presented its ESG credentials to financial markets, which included interesting insights in ... Read the full article

Munich Re & National Friendly collaborate on income protection offering

2nd December 2021

Munich Re Automation Solutions Ltd., part of the global reinsurer, has partnered with National Friendly to support the launch of a new income protection proposition. National Friendly has adopted the ALLFINANZ SPARK solution to provide traditionally underserved members with simplified access to income protection. The solution's extensive analytics and reporting capabilities are ... Read the full article

Reale Vida partners with Munich Re on digital life underwriting

25th November 2021

Reale Vida, the Reale Group's Spanish insurer, has partnered with Munich Re to implement automated underwriting across its life insurance operations in Spain. The solution is based on Munich Re’s ALLFINANZ Spark digital new business technology and takes advantage of the reinsurer’s global life underwriting experience and knowledge of the Spanish ... Read the full article

Fitch highlights strong 9M earnings from Europe’s top 4 reinsurers

15th November 2021

Europe’s four biggest reinsurers are said to have demonstrated strong earnings improvements over the course of 2021’s first nine months, despite what was a period of heavy catastrophe losses for the sector.   Fitch Ratings' analysts explained how Munich Re, Swiss Re, Hannover Re and SCOR all posted ... Read the full article

More rate needed, but cat is clearly a profitable line: Munich Re CFO

10th November 2021

While many of the catastrophe prone markets have already experienced hardening over the past few years, higher prices are still required for some of the less impacted geographies and perils, but overall, Munich Re is pleased with the profitability of its catastrophe book, according to its Chief Financial Officer (CFO), ... Read the full article

Munich Re sees Q3 profit rise despite cats denting its reinsurance result

9th November 2021

Global reinsurer Munich Re has reported an improved year-on-year profit for both the third quarter and first nine months of the year, of €366 million and €2.1 billion, respectively, although its property-casualty (P&C) combined ratio trended above 100% for the periods on the back of high catastrophe losses. For the quarter, ... Read the full article

Climate policy will succeed if business needs are met: Munich Re’s Wenning

3rd November 2021

With the world’s eyes on the COP26 summit in Glasgow, Joachim Wenning, Chair of the Board of Management at Munich Re, has assured that climate policy will succeed if it takes into account the “needs of businesses.” In a new report, Munich Re has called for greater collaboration between the private ... Read the full article

Insurtech FloodFlash secures further Munich Re investment

1st November 2021

Munich Re is to provide capacity for the principal business of parametric flood insurtech FloodFlash, which aims to provide rapid-payout flood cover for SMEs and landlords. This is not the first time these two companies have crossed paths; the global reinsurer provided capacity for FloodFlash’s consultancy service in 2020. FloodFlash+ saw ... Read the full article

Munich Re sells 12.1 million Admiral shares, reducing holding to 6%

27th October 2021

German reinsurer Munich Re has sold 12.1 million shares, or 4% of its holding in UK-based insurer Admiral Group at a price of £29.40 per share, leading the carrier's share price to fall by 5.5% on Wednesday morning to £28.80. At 9am, the FTSE 100 index of leading shares was 7 ... Read the full article

Munich Re’s HSB acquires new SMB-focused cybersecurity platform

22nd October 2021

Munich Re-owned specialty insurer HSB has acquired a digital cybersecurity platform from cybersecurity firm Zeguro, including a suite of management tools and services designed for small businesses. The addition of Zeguro’s cyber safety solution and key personnel is expected to strengthen the overall cybersecurity offering of HSB. The platform offers integrated online ... Read the full article

Munich Re announces Bernd & Ida losses of €1.8bn in Q3

19th October 2021

For Q3 2021, global reinsurance giant Munich Re has pre-announced losses of roughly €600 million from the impacts of windstorm Bernd in Europe in July, and losses of around €1.2 billion from Hurricane Ida in the U.S. The cost of Bernd, which resulted in severe flooding and flash floods in Germany ... Read the full article

Munich Re expects to see considerably higher reinsurance rates in Europe

18th October 2021

Global reinsurer Munich Re is anticipating continued reinsurance market hardening in Europe at the January 1st, 2022 renewals, while major losses and inflation trends suggest more pricing discipline. "Rising prices for various assets and the latest major losses make considerably higher reinsurance rates in Europe likely," said Doris Höpke, Member of ... Read the full article

Abu Dhabi’s ADQ acquires remaining 20% of Munich Re’s Daman

14th October 2021

Abu Dhabi-based ADQ, one of the region’s largest holding companies, has entered into an agreement to acquire the remaining 20% equity stake of The National Health Insurance Company – Daman – PJSC, from Munich Re. As a partner to ADQ, Munich Re will continue in its capacity as the company's reinsurer. Since ... Read the full article

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