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.
Thunderstorms in US and Europe “more destructive than ever” in 2023: Munich Re
9th January 2024
According to a new report from Munich Re, thunderstorms in North America and Europe in 2023 were "more destructive than ever before", driving overall losses of $76 billion, and insured losses of $58 billion. The reinsurer observed that such high thunderstorm losses have never been recorded in the USA or Europe. "Assets ... Read the full article
Munich Re Automation Solutions launches SARA Interview Screens
19th December 2023
Munich Re Automation Solutions Ltd, a provider of automated underwriting and analytics solutions to the life insurance industry, has unveiled an addition to its arsenal with the launch of the Interview Screens module for its automated underwriting point-of-sale solution, SARA. The SARA Interview Screens module, designed to be lightweight and flexible, ... Read the full article
Munich Re lifts profit target to €5bn for 2024
15th December 2023
One of the world's largest reinsurers, Munich Re, has announced a new net profit target of €5 billion for 2024, as well as Group revenue of €59 billion, and an improved return on investment to above 2.8%. In announcing its Q3 2023 results back in November, Munich Re said that ... Read the full article
Momentum of climate action has been far too slow, says Munich Re’s Rauch ahead of COP28
27th November 2023
As world leaders meet in the UAE this week for the annual COP climate conference, Ernst Rauch, Chief Meteorologist at European reinsurance giant Munich Re, has said that the United Nations is right when it says that climate action can't wait. "With COP28 starting this week, what can be looked at ... Read the full article
MMC UK Pension Fund completes £2bn longevity swap
17th November 2023
Mercer, a subsidiary of Marsh McLennan and an advisor to the MMC UK Pension Fund Trustee Limited, has announced the completion of a longevity hedge covering approximately £2 billion of liabilities, backed by German reinsurer Munich Re. This is the first longevity swap to include active members, and covers the liabilities ... Read the full article
Munich Re’s ERGO-FESCO and BMW (China) approved to set up in Beijing
9th November 2023
Munich Re's ERGO-FESCO Broker Company Limited and BMW (China) Insurance Brokers Co. have received regulatory approval to set up in Beijing. Li Yunze, head of the National Administration of Financial Regulation, said at the opening ceremony of the annual Financial Street Forum, “To make it easier for foreign institutions to enter ... Read the full article
Munich Re still very confident ahead of Jan renewals: CFO Jurecka
8th November 2023
With rates in many lines of business now at more appealing levels, Munich Re CFO Christoph Jurecka notes a "very attractive environment" and says the firm is confident heading into the 1.1 reinsurance renewals. "January renewal, we continue to be very confident. I think in many business lines prices are now ... Read the full article
Munich Re posts strong Q3’23 results as P&C combined ratio strengthens to 82%
8th November 2023
European reinsurer Munich Re has lifted its annual guidance for its net result to €4.5 billion after reporting a solid set of third quarter and nine month 2023 results, as the firm closed a third consecutive quarter with a net result above pro-rate guidance. For Q3 and 9M 2023, Munich Re ... Read the full article
Munich Re to reinsure battery manufacturer Hithium
26th October 2023
Global reinsurance giant Munich Re has agreed to provide warranty reinsurance for battery manufacturer, Hithium, energy storage systems (ESS). The reinsurer will cover both product and performance warranties. The agreement will thus reduce ESS project owners’ risk as well as Hithium’s, providing system owners with coverage even in case of a ... Read the full article
Munich Re reports preliminary Q3 net result of €1.2bn, sets new annual target
23rd October 2023
Citing consistently good operational performance in all business segments, Munich Re has disclosed a preliminary net result for Q3 of ca. €1.2bn, as the firm remains "well positioned" to surpass the previous annual target of €4bn. Munich Re explained that in property-casualty reinsurance, it reported major losses that were slightly below ... Read the full article
European reinsurers say the industry is “really piloting” the usage of AI
20th October 2023
As AI technology continues to be a key talking point across the re/insurance industry, major firms, Swiss Re and Munich Re have explained that the adaption of the technology within the sector remains within its early days and piloting stages. This was showcased at Swiss Re's Baden-Baden media conference, when Anne ... Read the full article
Reinsurance still needs to demonstrate ability to earn sustainably good margins: Munich Re
19th October 2023
With the key January 1st, 2024, reinsurance renewals fast approaching, there remains an imbalance between supply and demand, amid an expectation of limited capital inflow as the market works to deliver sustainably good margins, according to Munich Re's Clarisse Kopff, Member of the Board of Management. Speaking this morning during the ... Read the full article
Munich Re partners with International SOS to enhance pandemic coverage
19th October 2023
Global reinsurance giant Munich Re has partnered with International SOS, a leading health and security firm, to develop an integrated epidemic and pandemic risk management policy solution. Through this new partnership between the two organizations, International SOS will now provide health advisory services to Munich Re’s pandemic policyholders. Moreover, the pandemic insurance ... Read the full article
Europe faces dynamic changes in risk landscape as €1bn losses surge: Munich Re
19th October 2023
Munich Re has noted that the frequency and severity of weather-related natural catastrophes are increasing in Europe, with an "unprecedented" series of events exceeding the €1 billion mark this year. However, Clarisse Kopff, a Member of the Board of Management, suggests the firm "is in a good position to carry ... Read the full article
Munich Re and DWS approved for acquisition of biogas plant owner Weltec
13th October 2023
Munich Re alongside investment firm DWS have been approved by the European Commission Directorate-General for Competition to acquire biogas plants operator, Weltec Holding. The transaction relates primarily to the operation of biogas and biomethane plants and the trading of its outputs, including electricity, heat, and fertiliser in Germany. DWS is a global ... Read the full article
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