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 to finance wetlands restoration project by oil and gas company Synergy
16th February 2024
Californian private oil and gas company, Synergy has secured financing from Munich Re, a global reinsurance company, to restore coastal wetlands on a 140-acre site in Long Beach. Synergy aims to use the funds to restore Los Cerritos wetlands and further develop a wetlands mitigation bank project. John McKeown, CEO and Principal ... Read the full article
Kaufmann appointed Senior Underwriter, Property Treaty at Munich Re Japan
15th February 2024
Oliver Kaufmann has been appointed to the role of Senior Underwriter, Property Treaty at Munich Re Japan, joining the global reinsurance giant from New Reinsurance Company Ltd. (NewRe). In his new role, Kaufmann will be based in Tokyo, Japan. During his 10-year tenure at NewRe, Kaufmann served in a number of different ... Read the full article
Munich Re forms global parametric NatCat solutions team
5th February 2024
European reinsurer Munich Re has announced the formation of a global parametric team focusing on natural catastrophe risk transfer solutions, bringing together experienced colleagues from around the world. The market for parametric solutions is highly dynamic and still gaining pace. It complements traditional insurance by providing post-catastrophe liquidity and coverage for ... Read the full article
Munich Re forecasts challenging geopolitics, weak growth, and ongoing inflation concerns
1st February 2024
The Munich Re Economic Research Outlook for 2024 suggests a challenging economic landscape marked by geopolitical uncertainties, weak growth, and lower inflation. Despite surprising growth in 2023, driven by robust labor markets, wage increases, and better-than-expected conditions in the United States, the report anticipates a slowdown in global economic growth in ... Read the full article
China offers significant growth potential, says Munich Re’s Wenning to China Daily
17th January 2024
In an exclusive interview with China Daily, Joachim Wenning, Munich Re's Chair of the board of management, said that the reinsurance giant currently books an annual premium income of approximately $2.19 billion in China, but expects this to rise in the future given the significant risk in the country. Despite the ... Read the full article
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