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.

Blunck to succeed Jeworrek as Chair of Munich Re’s Reinsurance Committee

20th October 2022

The Supervisory Board of Munich Re has announced that it has appointed Dr Thomas Blunck as the Chair of the Reinsurance Committee of the Group’s Board of Management with effect from January 1, 2023. Blunck will succeed Dr Torsten Jeworrek, who will be stepping down from the Board of Management of ... Read the full article

Bleak outlook for Europe as inflation to remain high in 2023: Munich Re

20th October 2022

According to a report from Munich Re, inflation is set to remain high in 2023, leading to a bleaker economic outlook for Europe as mixed crises are causing unprecedented levels of complexity in the business environment for re/insurers worldwide. Thomas Blunck, a Member of the Board of Management, commented, "The outlook ... Read the full article

Munich Re backs oil & gas decommissioning product by OneNexus

18th October 2022

Reinsurer Munich Re has agreed to provide backstop capital for a new funding product from OneNexus that seeks to provide the oil and gas industry with an option to reduce its environmental footprint. OneNexus’s Asset Retirement Obligation (ARO) product aims to address the decommissioning liabilities associated with retiring long-lived hydrocarbon producing ... Read the full article

Munich Re & Swiss Re to bear largest market share of Ian losses: JP Morgan

13th October 2022

Basing its top-down view of Hurricane Ian losses on RMS’s $67bn estimate, JP Morgan has suggested that Munich Re and Swiss Re are likely to have the largest market share of Ian losses. JP Morgan observes that RMS gave a range of $53-74bn, with an additional $10bn in losses for the ... Read the full article

Munich Re & HSB partner with Schneider Electric on electrical risk

12th October 2022

Global reinsurer Munich Re and its subsidiary, HSB, have partnered with Schneider Electric, a specialist in energy management and automation, on electrical and equipment risk. The partnership will blend risk solutions including uptime guarantees and unwarned failure warranties, with IoT technology to serve clients. Together, the companies will help businesses to remain ... Read the full article

Munich Re acquires API-focused insurtech

6th October 2022

Reinsurance giant Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software-as-a-Service (SaaS) for the insurance industry’s ecosystem. apinity is an API software platform that enables insurers to utilise third-party API services, in turn making it possible to transparently manage both ... Read the full article

Munich Re to cease investing in or insuring new oil and gas fields from April 2023

6th October 2022

Global reinsurer Munich Re has committed that as of 1 April 2023 it will no longer invest in or insure contracts / projects exclusively covering the planning, financing, construction or operation of new oil and gas fields, new midstream oil infrastructure and new oil fired power plants. The large, European reinsurer ... Read the full article

Top 20 U.S. cyber insurers all saw premium growth in 2021

6th October 2022

Of the approximately $4.8 billion of U.S. cyber insurance premiums underwritten in 2021 by the property & casualty (P&C) industry, more than 81% came from the top 20 cyber insurers in the U.S. marketplace, led by global insurer Chubb. Based on research data from rating agency AM Best, ... Read the full article

Munich Re promotes Yaoling Bai to new role in Beijing

28th September 2022

Munich Re in China has promoted Yaoling Bai to the role of senior property treaty underwriter and nat cat consultant. Bai has been with the firm since February 2019 when she joined as a property treaty underwriter. Prior to this, she worked for RMS for nearly two-and-a-half years as senior product ... Read the full article

Munich Re aims to push boundaries of climate insurability, say leaders

23rd September 2022

Executives at Munich Re say the company is aiming to “push the boundaries of insurability” in its efforts to help understand and mitigate the impacts of climate change. Speaking at a briefing during the 2022 RVS event in Monte Carlo last week, leaders at the German reinsurance company said they see ... Read the full article

Reinsurer nat cat experience year-to-date has been mixed, says JP Morgan

15th September 2022

According to a report from JP Morgan, Europe's big four reinsurers had mixed natural catastrophe experiences during the first half of 2022. It notes Munich Re is the only company to see losses below expectations at ~60% of the H1 budget, with only ~30% of the full-year budget utilized so far. ... Read the full article

Reinsurers risk irrelevancy if cyber demand isn’t met: Munich Re

15th September 2022

Senior executives at Munich Re have warned that the re/insurance industry “might lose relevance” if it doesn’t find ways to meet the growing demand for cyber cover with new products and services. Speaking at the reinsurer’s 2022 RVS briefing in Monte Carlo this week, CEO of Reinsurance Torsten Jeworrek noted that ... Read the full article

Munich Re projects 2-3% growth for reinsurance sector by 2024

13th September 2022

Analysts at Munich Re have projected that the reinsurance sector will grow by 2-3% worldwide from 2022 to 2024, despite the numerous headwinds facing the market. Alongside the 2022 RVS event in Monte Carlo this week, Munich Re flagged extreme inflation, rising interest rates and asset slumps as challenges for the ... Read the full article

Munich Re has no ambition to shrink capacity: Jeworrek

11th September 2022

Munich Re has no ambition to shrink its capacity on offer at the upcoming January 2022 renewals, according to Torsten Jeworrek, CEO of Reinsurance and a member of the Board of Management at the German reinsurance giant. Speaking during a press briefing at this year’s RVS event in Monte Carlo, Jeworrek ... Read the full article

Capital adequacy remains a key strength for Europe’s big four: Moody’s

31st August 2022

According to a Moody’s Investors Service report, falling bond and equity prices resulted in a significant decline in reported shareholders' equity, though capital adequacy remains a key strength for Europe’s big four reinsurers, confirming the cohort's capacity to absorb future shocks. Rising rates were positive for the sector’s regulatory Solvency II ... Read the full article