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.

Evolution of nat cat events remains a key challenge for the energy space: Munich Re Syndicate’s Timothy Lee

23rd June 2021

The increased unpredictability and severity of natural catastrophe events will continue to be the key challenges for the energy insurance sector, according to Timothy Lee, Energy and Engineering Underwriter, Munich Re Syndicate Singapore. In an interview with Reinsurance News, Lee noted that the energy insurance market continues to harden, although at ... Read the full article

Munich Re Specialty Insurance names Chief Claims Officer

16th June 2021

Munich Re Specialty Insurance (MRSI), a division of German reinsurance giant Munich Re, has announced the appointment of Mary Beth McClellan as Chief Claims Officer. McClellan joined MRSI in 2020 as Head of Claims and previously served as a Casualty Practice Lead over multiple lines of business for XL Catlin, now ... Read the full article

COVID-19 uncertainty remains a key risk for 2021: Munich Re CFO

6th May 2021

While the global vaccination effort is enabling parts of the world to open up and providing people with vital protection against COVID-19, all of which means reduced exposure for re/insurers, uncertainty remains for both the months ahead and the 2020 run-off, according to Christoph Jurecka, Chief Financial Officer (CFO) at ... Read the full article

Munich Re’s Q1 operating result improves on lower COVID impact

6th May 2021

Global reinsurer Munich Re has announced a profit of €589 million for the first quarter of 2021 against €221 million a year earlier, as the operating result spiked owing to a considerably lower impact from COVID-19 losses in the period. For Q1 2021, Munich Re's operating result improved from €397 million ... Read the full article

Munich Re’s Wenning urges public-private collaboration on systemic risks

29th April 2021

Joachim Wenning, Chief Executive Officer (CEO) of Munich Re Group, has urged governments and the private sector to pool their expertise and capabilities to tackle systemic risks such as pandemics. Speaking at Munich Re’s AGM this week, Wenning argued that, as a systemic risk, pandemic is fundamentally “beyond the boundaries” of ... Read the full article

Munich Re doing ‘more business on better terms’, says CEO Wenning

28th April 2021

Global reinsurer Munich Re expects market hardening to persist in the property / casualty reinsurance sector as it continues to take advantage of favourable conditions, according to its Chief Executive Officer (CEO), Joachim Wenning. The German reinsurance company held its virtual 2021 Annual General Meeting (AGM) this morning, during which CEO ... Read the full article

Munich Re’s consulting unit adopts pricing tech from Akur8

21st April 2021

Munich Re has entered into a global cooperation agreement with Akur8 to boost the pricing capabilities of Munich Re’s Global Consulting Unit. Specifically developed for re/insurance, Akur8’s solution is designed to enhance pricing processes by automating risk and demand modelling, using artificial intelligence proprietary technology. The solution promises a reduction in modelling ... Read the full article

Munich Re forecasts major losses from winter storms, but also a profitable Q1

20th April 2021

Global reinsurer Munich Re has pre-warned that losses in its property / casualty reinsurance segment from major events came in above-average for the first-quarter of 2021, primarily as a result of the severe winter weather in the U.S. in February. The German reinsurer is the latest to comment on the significant ... Read the full article

Munich Re Syndicate launches Retakaful Window

19th April 2021

Munich Re Syndicate Labuan Limited (MRS Labuan) has announced the the launch of the first and only retakaful syndicate on the Labuan platform. Labuan FSA approved the Retakaful Window facility for MRS Labuan to write Syariah-compliant risks with effect from January 2021. It’s hoped the launch of the Retakaful Window will allow ... Read the full article

Munich Re partners with Spectrum Labs for AI safety systems

1st April 2021

Global reinsurer Munich Re has entered into a partnership with Spectrum Labs in order to set a new industry standard for AI-based Trust & Safety systems. Spectrum Labs provides patent-pending technology to consumer internet brands to help identify toxic behaviour online. The partnership will help protect its customers and manage their risk ... Read the full article

HDVI partners with Munich Re & Spinnaker

26th March 2021

Commercial auto insurance business High Definition Vehicle Insurance (HDVI) Group has announced new partnerships with Munich Re Specialty Insurance and Spinnaker Insurance Company. Munich Re Specialty Insurance will support and collaborate with HDVI around its risk solutions, while Spinnaker will serve as the insurance company for the HDVI program. Meanwhile, HDVI’s captive, ... Read the full article

Munich Re’s private client arm launches personalised tech-enabled offering

18th March 2021

Munich Re’s private client arm GrovesJohnWestrup has launched a new offering designed to offer a digital platform for insurance brokers and intermediaries. GrovesJohnWestrup’s offering is available via a digital portal platform that adopts a data-driven approach to provide fast response times regardless of the size or complexity a client requires. The offering ... Read the full article

Munich Re puts US winter storm loss in the mid-hundreds of millions

17th March 2021

Global reinsurance giant Munich Re has said that it currently expects claims expenditure from the severe winter weather conditions that affected the U.S. last month to reach the mid triple-digit million euro range. Winter storm Uri resulted in significant disruption across a number of southern U.S. states in February, especially Texas, ... Read the full article

Munich Re partners with global freight data company, ClearMetal

17th March 2021

Global reinsurer Munich Re has entered into a partnership with logistics technology company, ClearMetal, to provide an insured guarantee to its offering. ClearMetal is a leading international freight visibility and dynamic planning company, providing shippers with quality, timely data on ocean container movements during transit so they can better plan on-time ... Read the full article

Munich Re backs cybersecurity service by Deep Instinct

12th March 2021

Munich Re is backing a new performance guarantee and ransomware warranty from cybersecurity specialist Deep Instinct. Following a due diligence on Deep Instinct’s technology, Munich Re decided to provide insurance for the guarantee and warranty via its new product, aiSure. Deep Instinct says the backing will enable it to guarantee the performance ... Read the full article

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