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Munich Re

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

Munich Re beats target for year, but misses consensus, combined ratio in Q4

7th February 2017

Global reinsurance giant Munich Re has achieved its full-year 2016 profit target, reporting a EUR 2.6 billion result, compared to its guidance of above EUR 2.3 billion, but for the fourth-quarter major catastrophe losses hit the firm and it missed target and the P&C reinsurance combined ratio was 101.9%. In the ... Read the full article

Munich Re seeking primary insurance acquisitions: Reports

2nd February 2017

Munich Re has said it’s interested in buying insurance companies with specialisations if prices drop, according to an interview with the firm's Chief Financial Officer (CFO) Joerg Schneider on Handelsblatt daily. The reinsurer’s CFO told Handelsblatt the company is; "open to large acquisitions but the prices simply haven’t been right in ... Read the full article

Munich Re to merge health and life reinsurance units

26th January 2017

Reinsurance giant Munich Re has announced that it will merge the reinsurance operations of its Munich Health unit with its Munich Re Life department, and has appointed member of its Board of Management, Thomas Blunck, to lead the operation in the future. The Germany domiciled reinsurance company also announced that it's ... Read the full article

Munich Re U.S. adds InsurTech innovation role, appoints Mozeika

24th January 2017

Reinsurance giant Munich Re has created a new role in the U.S. as it seeks to help its clients seize opportunities resulting from the InsurTech wave and technological developments in risk transfer business. Robert Mozeika has been appointed to the newly created Innovation Executive at Munich Reinsurance America, Inc., the global ... Read the full article

Insurtech Bought By Many raises £7.5m, Munich Re to provide capacity

16th January 2017

Insurance technology (insurtech) start-up Bought By Many has raised a £7.5 million (US$9.5 million) Series A venture round, and reinsurance firm Munich Re is one of the backers. Bought By Many uses social media and search data in order to provide insight-driven insurance to customers. Through the addition of this insight, ... Read the full article

Munich Re makes new supervisory board appointment

16th January 2017

Global reinsurance firm Munich Re has made a new appointment to its supervisory board, to replace Wolfgang Mayrhuber, who resigned his seat on after 14 years on the board in December 2016. Renata Jungo Brüngger (aged 55) has been appointed to the Supervisory Board of Munich Re with effect from 3rd ... Read the full article

Munich Re launches telematics app with DriveFactor

12th January 2017

Munich Re continues to display its insurtech ambitions, launching a telematics application on the Apple and Android app stores in recent days, in partnership with CCC owned DriveFactor. Global reinsurance firm Munich Re is increasingly diving into the world of insurance technology (insurtech), as it seeks to understand how tech can ... Read the full article

Reinsurance price declines moderated at 1/1 2017 renewals: Guy Carpenter

5th January 2017

Reinsurance price declines moderated at the key January 1st 2017 renewals when compared with the previous three renewal seasons, across the majority of business lines and geographies, according to reinsurance broker Guy Carpenter. The global reinsurance sector remains under significant pressure from a series of headwinds, underlined by a continuation of ... Read the full article

Growth opportunities still exist in reinsurance: J.P. Morgan Cazenove

5th January 2017

With the global reinsurance market having just been through another tricky January renewal season, when rates are generally accepted to have fallen and terms expanded further, there are still opportunities for companies to grow their premiums, according to analysts. Sluggish demand is a factor that has exacerbated the softening of the ... Read the full article

A.M. Best maintains stable outlook for U.S. life reinsurance market

13th December 2016

International financial services ratings agency, A.M. Best, has maintained its stable outlook for the U.S. life reinsurance marketplace, in spite of the company recently revising its outlook on the U.S. life/annuity industry to negative, and maintaining its negative outlook on the global reinsurance market. A recent A.M. Best briefing on ... Read the full article

Munich Re Chairman von Bomhard enters Insurance Hall of Fame

12th December 2016

Chairman of the Board of Management at reinsurance giant Munich Re, Nikolaus von Bomhard, has been announced as the 2017 Insurance Hall of Fame Laureate, by the International Insurance Society (IIS). The IIS today announced that Dr. von Bomhard is the latest addition to the Insurance Hall of Fame, which honours insurance ... Read the full article

Even Munich Re’s normalised combined ratio nears breakeven

8th December 2016

International financial services ratings agency, Fitch Ratings, has commented on the impact the softening reinsurance market is having on the underwriting profitability of reinsurer Munich Re, stating that the company's P&C reinsurance normalised combined ratio deteriorated to 99.9% in the first nine months of 2016. Lower than expected losses from natural ... Read the full article

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