Reinsurance 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.
6th May 2021
While the global vaccination effort is enabling parts of the world to open up and providing people with vital protection against COVID-19, all of which means reduced exposure for re/insurers, uncertainty remains for both the months ahead and the 2020 run-off, according to Christoph Jurecka, Chief Financial Officer (CFO) at ... Read the full article
6th May 2021
Global reinsurer Munich Re has announced a profit of €589 million for the first quarter of 2021 against €221 million a year earlier, as the operating result spiked owing to a considerably lower impact from COVID-19 losses in the period. For Q1 2021, Munich Re's operating result improved from €397 million ... Read the full article
29th April 2021
Joachim Wenning, Chief Executive Officer (CEO) of Munich Re Group, has urged governments and the private sector to pool their expertise and capabilities to tackle systemic risks such as pandemics. Speaking at Munich Re’s AGM this week, Wenning argued that, as a systemic risk, pandemic is fundamentally “beyond the boundaries” of ... Read the full article
28th April 2021
Global reinsurer Munich Re expects market hardening to persist in the property / casualty reinsurance sector as it continues to take advantage of favourable conditions, according to its Chief Executive Officer (CEO), Joachim Wenning. The German reinsurance company held its virtual 2021 Annual General Meeting (AGM) this morning, during which CEO ... Read the full article
21st April 2021
Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article
20th April 2021
Global reinsurer Munich Re has pre-warned that losses in its property / casualty reinsurance segment from major events came in above-average for the first-quarter of 2021, primarily as a result of the severe winter weather in the U.S. in February. The German reinsurer is the latest to comment on the significant ... Read the full article
19th April 2021
Munich Re Syndicate Labuan Limited (MRS Labuan) has announced the the launch of the first and only retakaful syndicate on the Labuan platform. Labuan FSA approved the Retakaful Window facility for MRS Labuan to write Syariah-compliant risks with effect from January 2021. It’s hoped the launch of the Retakaful Window will allow ... Read the full article
1st April 2021
Global reinsurer Munich Re has entered into a partnership with Spectrum Labs in order to set a new industry standard for AI-based Trust & Safety systems. Spectrum Labs provides patent-pending technology to consumer internet brands to help identify toxic behaviour online. The partnership will help protect its customers and manage their risk ... Read the full article
26th March 2021
Commercial auto insurance business High Definition Vehicle Insurance (HDVI) Group has announced new partnerships with Munich Re Specialty Insurance and Spinnaker Insurance Company. Munich Re Specialty Insurance will support and collaborate with HDVI around its risk solutions, while Spinnaker will serve as the insurance company for the HDVI program. Meanwhile, HDVI’s captive, ... Read the full article
18th March 2021
Munich Re’s private client arm GrovesJohnWestrup has launched a new offering designed to offer a digital platform for insurance brokers and intermediaries. GrovesJohnWestrup’s offering is available via a digital portal platform that adopts a data-driven approach to provide fast response times regardless of the size or complexity a client requires. The offering ... Read the full article
17th March 2021
Global reinsurance giant Munich Re has said that it currently expects claims expenditure from the severe winter weather conditions that affected the U.S. last month to reach the mid triple-digit million euro range. Winter storm Uri resulted in significant disruption across a number of southern U.S. states in February, especially Texas, ... Read the full article
17th March 2021
Global reinsurer Munich Re has entered into a partnership with logistics technology company, ClearMetal, to provide an insured guarantee to its offering. ClearMetal is a leading international freight visibility and dynamic planning company, providing shippers with quality, timely data on ocean container movements during transit so they can better plan on-time ... Read the full article
12th March 2021
Munich Re is backing a new performance guarantee and ransomware warranty from cybersecurity specialist Deep Instinct. Following a due diligence on Deep Instinct’s technology, Munich Re decided to provide insurance for the guarantee and warranty via its new product, aiSure. Deep Instinct says the backing will enable it to guarantee the performance ... Read the full article
8th March 2021
Global reinsurer Munich Re has announced the appointment of Scott Hawkins to succeed Ralph Ronnenberg as Managing Director of Australasia, effective April 1st, 2021. In his new role, Hawkins takes on responsibility for overseeing the leadership and strategic steering of the firm's operations in Australia and New Zealand, as well as ... Read the full article
8th March 2021
Munich Re, via its subsidiary Munich Re New Ventures (MRNV), has announced plans to acquire Group Health Group Holdings, Inc. (GroupHEALTH), one of the largest third party group insurance administrators in Canada. MRNV will increase its stake in GroupHEALTH from its existing 40% interest to owning 100% of the company. Following the ... Read the full article
