Reinsurance News
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 focused on maintaining improved T&Cs at mid-year renewals: CFO Jurecka
8th May 2024
Christoph Jurecka, Chief Financial Officer (CFO) of Munich Re, stressed this morning that the global reinsurer will continue to be disciplined at the upcoming mid-year reinsurance renewals, and will focus on maintaining the improved terms and conditions (T&Cs) achieved last year. Early this morning, Munich Re released an impressive set ... Read the full article
Munich Re’s insurance revenue rises to €15.1bn in Q1’24
8th May 2024
Global reinsurer Munich Re has today announced a rise in insurance revenue from contracts issued to €15.1 billion for the first quarter of 2024, driven by organic growth in its reinsurance business and also at ERGO International. Last month, Munich Re pre-announced a net profit of €2.1 billion for Q1 ... Read the full article
Munich Re launches generative AI REALYTIX ZERO Co-Pilot
3rd May 2024
Munich Re's REALYTIX team has launched a generative AI co-pilot facilitating insurance solution development of clients. With REALYTIX ZERO, Munich Re has been providing a cloud-based underwriting platform with based on its underwriting expertise since 2018, helping primary insurers, MGAs and brokers to digitalise and automate the underwriting of their products. Built ... Read the full article
Favourable P&C reinsurance environment to persist at mid-year renewals: Munich Re CEO
25th April 2024
Joachim Wenning, Chief Executive Officer (CEO) of Munich Re, is confident that the favourable market environment for property and casualty (P&C) reinsurers will continue throughout 2024, after a positive January 1st reinsurance renewal period. Addressing shareholders at Munich Re's Annual General Meeting (AGM), CEO and Chair of the Board, Wenning, described ... Read the full article
Munich Re Life US & Clareto unveil new digital solution for life insurance underwriting
23rd April 2024
Munich Re Life US, part of Munich Re Group, and Clareto, a Munich Re company, have unveiled a new digital solution called Automated EHR Summarizer, which is set to ensure efficient and accurate use of Electronic Health Record (EHR) data for automated and programmatic life insurance underwriting. According to the announcement, ... Read the full article
Munich Re posts quarterly profit of €2.1bn as P&C reinsurance CoR strengthens
23rd April 2024
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for the first quarter of 2024, as the firm highlights a better than expected operational performance across all lines of business. Munich Re will release its full Q1 2024 results on May 8th, but has today provided some ... Read the full article
Munich Re bolsters P&C underwriting teams in APAC MEA with revised set-up
18th April 2024
Munich Re is to strengthen its P&C underwriting teams in Asia Pacific, Middle East & Africa (APAC MEA) with a revised set-up, which includes two regional divisions and personnel changes at the senior executive level. As Chief Executive, Hitesh Kotak will lead Munich Re's P&C business in Japan, India, Korea and ... Read the full article
The World Bank issues $420m parametric cat bond for the Government of Mexico
17th April 2024
The World Bank has issued $420 million in catastrophe bonds for renewed disaster risk protection for the Government of Mexico. The cat bond, which will finance insurance coverage against named storm events along the Atlantic coast of Mexico and earthquake events, will be issued by the International Bank for Reconstruction ... Read the full article
Munich Re’s HSB Canada names Barbara Bellissimo as President and CEO
8th April 2024
Toronto-based specialty insurer and part of reinsurer Munich Re, HSB Canada, has appointed Barbara Bellissimo as its new President and Chief Executive Officer (CEO), effective April 1st, 2024. She succeeds John Mulvihill, who has retired after a successful 34-year career with the insurer. The insurer explained that under Mulvihill’s leadership, HSB Canada ... Read the full article
Klaus Wilkens named president and CEO of Munich Re Canada
3rd April 2024
Munich Re has announced the appointment of Klaus Wilkens as the new president and CEO for Munich Reinsurance Company of Canada and Temple Insurance Company, the reinsurer’s agency affiliate in the country. An experienced leader with a strong mix of market facing strengths, people leadership skills, and technical underwriting skills, Wilkens ... Read the full article
Europe’s big four reinsurers well placed for a strong 2024: Fitch
2nd April 2024
Large European reinsurers posted very strong financial results for 2023, enabling them to bolster reserves and balance sheets and this will support ratings in 2024, according to analysis by Fitch Ratings. The ratings agency feels that Europe's big four reinsurers, Munich Re, Swiss Re, Hannover Re, and SCOR are well placed ... Read the full article
Europe’s big four reinsurers doubled combined earnings in 2023, says Moody’s
27th March 2024
Analysts at Moody’s Investors Service report that the four largest European reinsurers—Munich Re, Swiss Re, Hannover Re, and SCOR — achieved a combined earning of €10.2 billion in 2023, more than double their earnings in 2022, attributed to higher prices and improved investment returns. Moody’s report underscores that all four companies ... Read the full article
AI brings systematic accumulation risk potential towards portfolios: Munich Re’s Berger
21st March 2024
With artificial intelligence (AI) practically impacting all aspects of everyday life, the number of insurance gaps when using AI has staggered in recent years. Reinsurance giant Munich Re highlighted this in a recent whitepaper that showcased how AI exposures within traditional insurance policies possess the ability to become a significant ... Read the full article
Munich Re HealthTech promotes Bilal Ramadan to Chief Executive Officer
12th March 2024
Munich Re HealthTech (MRHT), a subsidiary of Munich Re, has promoted Bilal Ramadan to Chief Executive Officer. Ramadan will report to Owais Ansari Head of Munich Re Life & Health, MENA, Pakistan & Takaful Business. Ansari commented, “We congratulate Bilal Ramadan for his appointment. His promotion marks an exciting new chapter for ... Read the full article
European reinsurers’ 1/1 renewals outcome suggests underwriting margins close to peaking: Fitch
29th February 2024
Analysis by Fitch Ratings on the outcome of the key January 1st, 2024, renewals for European reinsurers claims that underwriting margins are close to peaking as supply and demand exhibits greater equilibrium. Earlier this year, Fitch warned that reinsurers’ underwriting margins are likely to peak in 2024, as the rating ... Read the full article
Getting your daily reinsurance news from Reinsurance News is a simple way to receive only the reinsurance industry news that matters, delivered directly to your email inbox.
