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.
Average ROE of reinsurers in Fitch peer group decreased to 1.2% in 2022
6th July 2023
A group of reinsurers in Fitch Ratings' universe saw their average return on equity (ROE) fall from 8.5% in 2021 to 1.2% in 2022 as mark-downs on investments, high inflation and increased losses from natural catastrophes drove a significant dip in profits. The global reinsurance companies in the peer group are ... Read the full article
Owais Ansari set to become CEO, Life & Health, MENA at Munich Re
4th July 2023
Global reinsurance giant Munich Re has announced that Owais Ansari has been appointed as Chief Executive Officer, Life & Health, Middle East and North Africa (MENA), with effect from September 1, 2023. According to the announcement, his appointment is subject to regulatory approval. In the role, Ansari will be based in Dubai, ... Read the full article
Re/insurance alone cannot absorb all risks from cyber incidents: Munich Re’s Kreuzer
29th June 2023
Collaboration among stakeholders in the risk and insurance industry to tackle evolving cyber risks is essential, a recent report from Federation of European Risk Management Associations (FERMA) has stated, with individuals like Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, highlighting that re/insurance cannot absorb the number ... Read the full article
Hard reinsurance market cycle to continue in 2024, says Munich Re’s Jurecka
16th June 2023
Christoph Jurecka, CFO of Munich Re, anticipates that the hard market cycle will persist into 2024, unless 2023 proves to be a very benign year for natural catastrophes. Jurecka recently spoke with analysts at Goldman Sachs, and noted that there is still a considerable supply-demand imbalance with capital not yet ready ... Read the full article
Munich Re to insure INTILION’s energy storage system
14th June 2023
German reinsurance giant Munich Re has signed a long-term collaboration agreement with INTILION to insure its large-scale energy storage system. The insurance product offered by Munich Re provides the company with the ability to insure against clients’ claims arising under the warranty and performance guarantee (Product and Performance Warranty Insurance). This agreement ... Read the full article
Munich Re America appoints Angela Homm as Chief Risk Officer
13th June 2023
The US brand of global reinsurance giant Munich Re (MRAS) has appointed Angela Homm to the role of Chief Risk Officer, effective June 12, 2023. In the role, she will report to Adrienne W. Mageras, President and CEO, MRAS and will also become a member of the MRAS Leadership Team. Prior to ... Read the full article
Munich Re backs raicoon’s solar performance guarantee
5th June 2023
Munich Re has backed climate-tech pioneer raicoon's "industry-first" 100% fault detection guarantee with zero false alarms for solar energy operations. According to raicoon, this "groundbreaking" collaboration with Munich Re will empower the acceleration of the energy transition, increase the efficiency and profitability of solar asset management, and optimise resource use. The alliance ... Read the full article
Lloyd’s becomes the 10th major player to mark its exit from NZIA
30th May 2023
Lloyd's announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s, the insurance and reinsurance market in London, mentioned in a statement that it will ... Read the full article
QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article
Republican AGs pen critical letter to NZIA members conveying “legal concerns”
18th May 2023
A consortium of Republican state attorneys general (AG) has penned a letter to insurers of the Net-Zero Insurance Alliance (NZIA) raising concerns about the legality of their commitments to collaborate with other insurers and asset owners in order to "advance an activist climate agenda." The targeted insurers are all NZIA members, ... Read the full article
Munich Re going as far as possible when it comes to catastrophe exposure: CFO Jurecka
17th May 2023
German reinsurance giant Munich Re achieved significant growth in its natural catastrophe book at increased prices at the April 1st, 2023, reinsurance renewals, with Christoph Jurecka, Chief Financial Officer (CFO), stating that the company will go as far as it can in this line of business amid hard market conditions. Read the full article
Munich Re’s Q1 2023 profit dips to €1.3bn as nat cats drive above-average losses
17th May 2023
Global reinsurer Munich Re has reported a net result of approximately €1.3 billion for the first quarter of 2023, down on the previous year (€1.5bn) as natural catastrophe events resulted in above-average losses for the firm, driven by the Turkey and Syria earthquake. Group-wide, insurance revenue from insurance contracts issued increased ... Read the full article
Munich Re’s Wenning praises firm’s portfolio diversification
9th May 2023
The reason that Munich Re has been able to perform well despite losses that are attributable to the war in Ukraine, ongoing inflation, and high market losses due to natural disasters, was portfolio diversification, according to Joachim Wenning, the Chair of the Board of Management. At the recent annual general meeting, ... Read the full article
Large losses to come in above budget for Europe’s big four reinsurers in Q1: BofA
3rd May 2023
Bank of America (BofA) estimates that European reinsurance results will fail to hugely impress against already-high expectations for the sub-sector, while analysts expect that all four major European reinsurance companies will have exceeded their Q1 large losses budget. The key factor for these losses according to the bank is natural disasters. ... Read the full article
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