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 joins African energy initiative to re/insure political risks

21st March 2018

Munich Re is launching a new clean energy initiative in conjunction with the African Trade Insurance Agency (ATI) and the European Investment Bank (EIB), which will offer coverage against a range of political risks in sub-Saharan Africa, and is expected to unlock US $1.4 billion of investment. The initiative, called the ... Read the full article

Re/insurers “almost obliged” to develop covers that better meet clients’ needs : Jeworrek, Munich Re

21st March 2018

Munich Re’s Chairman of the Reinsurance Committee, Torsten Jeworrek, placed the onus on insurers and reinsurers to adapt product offerings to better suit client needs after 2017's catastrophe levels highlighted the extent of the global protection gap (the gap between insured and economic losses post-event). In 2017 economic losses from natural ... Read the full article

Munich Re looks to reshuffle the value chain

19th March 2018

Global, Germany-based reinsurance giant Munich Re is looking to transform its business model in order to get closer to the client, essentially reshuffling the value chain with the help of technology and digitisation to reduce complexities and boost efficiency. As part of its recent annual 2017 recap and 2018 outlook, Munich ... Read the full article

Munich Re to benefit from price increases and new markets, says Wenning

16th March 2018

In his annual letter to shareholders, Munich Re’s Chairman of the Board, Joachim Wenning, outlined a positive forecast for the company’s future, despite the challenges of 2017, citing rising reinsurance prices and new market opportunities for profitable business as factors that will drive growth. Wenning prefaced his outlook by acknowledging the ... Read the full article

Munich Re expects to shed 900 jobs, 90% of which in reinsurance

15th March 2018

Global reinsurance player Munich Re expects to shed roughly 900 personnel over the coming months, as the company seeks to save EUR 200 million, with the majority of the staff to be lost from the reinsurance business. Speaking this morning during the reinsurers press briefing in Munich, CEO Joachim Wenning said ... Read the full article

Munich Re forecasts rising profits through to 2020 and beyond

15th March 2018

Reinsurance giant Munich Re has lifted its guidance for 2018 slightly over the prior year, as it anticipates higher profits on the back of improved pricing conditions, along with continued progress from its primary arm ERGO over the coming year. Munich Re forecasts profits of between €2.1 billion and €2.5 billion ... Read the full article

Munich Re America CEO named Chairman of AIA’s Board of Directors

8th March 2018

The American Insurance Association (AIA) has elected Anthony Kuczinski, President and Chief Executive Officer (CEO) at Munich Reinsurance America, a division of global reinsurer Munich Re, as Chairman of its Board of Directors. Elected at AIA’s March, 2018 Board meeting, Kuczinski is set to succeed Chris Swift, Chairman and CEO at The ... Read the full article

Munich Re America appoints new Head of Human Resources

2nd March 2018

Munich Reinsurance America, Inc. has announced that Cheryl Jones is to be appointed as its new Head of Human Resources, and will join the Munich Re America Executive Leadership Team. Jones’ new position will see her responsible for driving efficiency and enhancing employee engagement, retention, and recruitment. She will now report ... Read the full article

Munich Re’s ERGO agrees on life portfolio management partnership with IBM

1st March 2018

Munich Re's ERGO has agreed on a life portfolio management partnership in cooperation with IBM Deutschland which will see the insurer migrate the management of its book of six million traditional life insurance contracts to a new IT platform. Clemens Muth, member of the Executive Board of ERGO Group AG responsible for ... Read the full article

Munich Re’s insurer HSB names non-executive board members

28th February 2018

HSB Engineering Insurance (HSB) has appointed Jeff Herdman and Craig Scarr as new non-executive directors of the company, which is owned by reinsurance giant Munich Re. Herdman, who is currently non-executive director appointments at the Swansea Building Society and Tasker Insurance Group, is to become an independent non-executive director and Chairperson ... Read the full article

Munich Re and Bosch partner for Industry 4.0 and IoT

22nd February 2018

Global reinsurance giant Munich Re has signed a cooperation agreement with international technology and service company Bosch, in an effort to develop new solutions for connected manufacturing in Industry 4.0. The agreement was signed on February 22nd, 2018 at the Bosch ConnectedWorld conference, and is the first Internet of Things (IoT) ... Read the full article

Munich Re utilises Starmind’s AI to transform knowledge management

13th February 2018

Global reinsurance giant Munich Re is working with Starmind to transform and improve the reinsurer's knowledge management through advanced technology and artificial intelligence (AI). Starmind's technology is designed to expand human ingenuity by applying neuroscientific principles to AI, and reinsurer Munich Re is looking to transform its knowledge management via a ... Read the full article

Rate improvements to continue in 2018: Munich Re CFO, Schneider

9th February 2018

Jorg Schneider, the Chief Financial Officer (CFO) of reinsurance giant Munich Re, is anticipating further and increased rate improvements at the upcoming April and mid-year renewals, owing to a stronger element of the business being non-proportional and natural catastrophe focused. Speaking during the Germany-based reinsurer's fourth-quarter 2017 earnings call, Schneider noted ... Read the full article

Munich Re reportedly planning efficiency drive, job cuts

7th February 2018

German reinsurance giant Munich Re is reportedly looking to cut its costs, with an internal memo suggesting that an efficiency drive is underway at the reinsurer, including potential reductions in headcount. With reinsurance companies needing to address expense ratios, while at the same time grappling with the promised streamlining of their ... Read the full article

Munich Re’s operating profit falls in 2017 but reinsurer expects continued market improvement

6th February 2018

Reinsurance giant Munich Re has reported profit of €538 million for the fourth-quarter of 2017 and €392 million for the full-year, while high natural catastrophe losses saw its operating result for the year decline to €1.24 billion from more than €4 billion in 2016. The group's gross written premiums in 2017 ... Read the full article