Reinsurance News
10th June 2019
Joachim Wenning, Chief Executive Officer (CEO) at reinsurer Munich Re, has urged European policymakers to increase the cost of emitting carbon, according to reports from the Financial Times. Wenning believes that such a move would create financial incentives to accelerate the switch from fossil fuels to renewables, thereby helping to limit ... Read the full article
6th June 2019
The Hartford Steam Boiler Inspection and Insurance Company (HSB), which is part of reinsurance giant Munich Re, has collaborated with U.S. commercial property and casualty (P&C) insurer CNA on IoT Technology solutions. Under the new partnership, HSB's IoT Technology solutions will be offered to CNA's small and mid-size commercial policyholders in ... Read the full article
30th May 2019
Munich Re wants to help the re/insurance industry approach the cyber challenge as an opportunity for “sustainable new business,” rather than as an insurmountable obstacle to be overcome. This is according to Jurgen Reinhart, Munich Re’s Chief Underwriter for Cyber, who told Reinsurance News that the company was “ready to accept ... Read the full article
20th May 2019
Munich Re has entered into a new global partnership with The Floow, a provider of telematics solutions and a data refinery for re/insurers and manufacturers in the motor industry. Under the arrangement, The Floow’s portfolio of solutions and capabilities can be provided to insurance clients around the world, while also strengthening ... Read the full article
17th May 2019
Munich Re member firm The Hartford Steam Boiler has announced a new cyber solution designed to help protect farmers and farm technology from hackers, malware and other cyber attacks. HSB Farm Cyber Insurance protects farmers against cyber attacks involving computers and electronic devices located on the farm premises, including the farm ... Read the full article
16th May 2019
The Boards of Directors of Munich Re Canada and Temple Insurance Company have announced the appointment of Claus-Ulrich Kroll as President and Chief Executive Officer of both organisations. Kroll steps into the role with over 17 years’ re/insurance experience, having joined Munich Re in 2008. He first served in the company’s Corporate ... Read the full article
10th May 2019
Munich Re has announced a new partnership with Curv, a cryptography firm for the digital economy, to provide insurance protection of up to $50m for digital assets in Curv's Institutional Digital Asset Wallet Service. The arrangement will provide Curv with the financial capability to pay for losses of crypto assets, with ... Read the full article
9th May 2019
Munich Re has announced the appointment of Linus Phoon from Canopius as Chief Executive Officer (CEO) for Singapore & Southeast Asia, effective May 2nd, 2019. Phoon joins the reinsurance giant from Canopius, where he held the position as CEO Reinsurance Asia, since 2008. In his new role he will be based in ... Read the full article
8th May 2019
Global reinsurance giant Munich Re has maintained its full-year 2019 profit target of around €2.5 billion, despite recording a decline in first-quarter net income as a result of higher basic losses and greater expenditure for claims from previous years. Munich Re's Q1 2019 income totalled €633 million, compared with €827 million ... Read the full article
6th May 2019
Munich Re is driving digital transformation and reducing complexity as part of a strategy to meet its new medium-term profit target of €2.8 billion for 2020, according to its Chief Executive Officer (CEO), Joachim Wenning. “Munich Re is becoming more digital, leaner, and more profitable,” Wenning said in a letter to ... Read the full article
1st May 2019
Global reinsurance giant Munich Re has announced that both Nikolaus von Bomhard and Karl-Heinz Streibich have been elected to the firm's supervisory Board for the first time, as Bernd Pischetsrieder steps down after 17 years on the Supervisory Board, six of which he spent as Chairman. Nikolaus von Bomhard takes over as Chair ... Read the full article
30th April 2019
New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid ... Read the full article
18th April 2019
Munich Re Syndicate Singapore, the Asia-Pacific arm of Munich Re's Lloyd’s syndicate, has announced a partnership with Singapore-based coverholder Nectar Specialty Risk (Nectar), a move that strengthens its ties in the region. Nectar offers professional lines products via a Nectar Pro, a Financial Lines business unit focused on emerging Asian markets ... Read the full article
18th April 2019
Global reinsurance giant Munich Re has appointed Michael Hauer to replace Ike Kim as Chief Executive Officer (CEO) for Korea, effective June 1st, 2019. After nine years as CEO for Korea, Kim is to leave the position and become Executive Director at Munich Re Korea. Hauer, who has been with the reinsurer ... Read the full article
8th April 2019
Raising premiums in response to the increasing frequency and severity of wildfire losses could become a “social issue,” making cover unaffordable for ordinary people, according to Ernst Rauch, Chief Climatologist at Munich Re. Speaking with the Guardian, Rauch said: “If the risk from wildfires, flooding, storms or hail is increasing then ... Read the full article
