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 stop covering businesses against pandemic losses: reports
11th September 2020
Global reinsurer Munich Re will no longer be providing cover to businesses against pandemic losses, according to reports from Bloomberg. This comes after the company took a €1.5 billion hit in the first half of 2020 as a result of the the COVID-19 pandemic. Upon the release of its financial results ... Read the full article
Munich Re endorses state-backed pools for pandemic risk
8th September 2020
Munich Re has argued that pandemic risks are “not insurable by the private sector alone” and has endorsed the use of state-backed risk pools to mitigate their impact. The reinsurer notes that the coronavirus pandemic has highlighted how vulnerable the world still is to very large risks, and says that more ... Read the full article
“Undisputed” re/insurance market hardening to persist: Jeworrek, Munich Re
7th September 2020
Re/insurance market hardening, in relation to price increases and renewed discussions around terms and conditions (T&Cs), is expected for "probably the next two years, or even a bit longer," according to Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance at Munich Re. With the annual, September meeting of the reinsurance industry ... Read the full article
Munich Re updates loss estimates for 2020 events
7th September 2020
Reinsurer Munich Re has released updated loss estimates for some of the major loss events of the year, including for the major hurricanes this summer, the coronavirus pandemic, and the Beirut explosion. The company is anticipating a low triple-digit-million euro amount in claims expenditure for the damage caused by hurricanes Hanna, ... Read the full article
Munich Re concludes reinsurance deal with Softlogic Life
3rd September 2020
Munich Re has concluded a $15 million reinsurance transaction with Softlogic Life Insurance PLC, a life insurer based in Sri Lanka. The deal, which Softlogic Life views as an innovative step for the South Asian Life and Health Reinsurance arena, was competed in March 2020. The company also announced deals with Development ... Read the full article
Average combined ratio of the world’s top reinsurers declined in 2019
2nd September 2020
Analysis of the Top 50 Global Reinsurance Groups reveals that, year-on-year, combined ratios trended higher for some of the largest players in the market in 2019 as underwriting profitability dipped for the cohort. When ranked by unaffiliated gross written premiums (GWP) in 2019, the top ten remains relatively unchanged year-on-year, ... Read the full article
European reinsurers top tier globally by business profile: Fitch
24th August 2020
The four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR SE are among the top tier of global reinsurers by business profile, Fitch Ratings says. Large franchises and a high degree of diversification underpin Fitch's assessment of very strong business profile for each group. The capital adequacy of ... Read the full article
COVID-19’s impact on Europe’s top reinsurers considerable, varied: Fitch
14th August 2020
Despite the H120 results from the four major European reinsurers - Munich Re, Swiss Re, Hannover Re and SCOR - revealing considerable pandemic-related claims, the impact of the pandemic on the four reinsurers varied significantly. This is in part due to differences in exposure to lines of business affected by the ... Read the full article
Munich Re Ventures co-leads Series A for insurtech HDVI
12th August 2020
Next-generation commercial auto insurer High Definition Vehicle Insurance (HDVI) has raised $16 million in Series A funding led by Munich Re Ventures and 8VC. Founded in 2018, HDVI is focused on delivering new commercial insurance solutions that help small and mid-size trucking fleets improve their safety, compliance, and operations. The company provides ... Read the full article
Munich Re adds €700m of COVID-19 losses in Q2 as profit falls to €579m
6th August 2020
Global reinsurance giant Munich Re added roughly €700 million of COVID-19-related losses in the second-quarter of 2020, contributing to a decline in profit for the quarter to €579 million, compared with €993 million a year earlier. The additional €700 million of COVID-19 losses takes the reinsurer's H1 2020 impact from ... Read the full article
Munich Re’s ERGO gets green light for Taishan investment
4th August 2020
The European Commission has approved a strategic investment by ERGO, the primary insurance arm of reinsurer Munich Re, in Shandong-based nationwide property and casualty (P&C) insurer, Taishan Property & Casualty Insurance Co., Ltd. As we wrote in early June, ERGO announced plans to bolster its P&C services in the Chinese ... Read the full article
Munich Re best placed to withstand Atlantic hurricane losses, analysts
27th July 2020
As we approach the peak months for the 2020 Atlantic hurricane season, analysts at investment bank Berenberg believe that Munich Re is the best placed to withstand a worst-case scenario. Even in a worst-case scenario, analysts state that Munich Re’s excess capital would only reduce by around 36% at the end ... Read the full article
Insured losses from nat cats hit $27 billion in H1, says Munich Re
23rd July 2020
In the first half of the year, natural catastrophes resulted in overall economic losses of approximately $68 billion, of which just over 18%, or $27 billion was covered by re/insurance protection, according to Munich Re. Globally, economic losses of $68 billion in H1 2020 is below the 30-year average of $74 ... Read the full article
Munich Re’s H1 2020 COVID-19 losses reach €1.5bn
20th July 2020
Global reinsurer Munich Re has announced COVID-19 related losses of roughly €700 million in its reinsurance operations in the second-quarter of 2020, as the firm cites "truly favourable conditions" for growing its reinsurance business. The reinsurance giant states that the large majority of its €700 million of registered COVID-19 losses is ... Read the full article
Munich Re insurtech subsidiary partners with Generali Indonesia
16th July 2020
Munich Re Automation Solutions, an insurtech subsidiary of the global reinsurer, has joined forces with life insurer Generali Indonesia in an effort to help boost the latter's underwriting process and streamline the risk assessment process. Reports from Fi News suggest Munich Re AS will provide its cloud-based business, digital underwriting and ... Read the full article
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