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 utilise CyberCube’s risk modelling, analytics platform
27th February 2019
Global reinsurer Munich Re has selected CyberCube’s analytics platform to help quantify, model and control cyber accumulation risk. Munich Re’s Chief Underwriter Stefan Golling states that leveraging the capabilities of CyberCube will help the company’s underwriting and risk modelling teams in better quantifying cyber risk and understanding potential cyber accumulation scenarios. An ... Read the full article
Ascent targets silent cyber with backing of Munich Re
27th February 2019
Specialist managing general agent, Ascent Underwriting has added physical damage cover to its CyberPro product, with additional capacity being provided by reinsurance giant Munich Re. CyberPro forms part of Ascent's professional and non-tangible risks portfolio, and with the backing of Munich Re, now covers physical and property damage plus debris removal ... Read the full article
Munich Re looks to digitise processes with Coupa Software partnership
21st February 2019
Global reinsurer Munich Re is partnering with business spend management (BSM) provider Coupa Software as it looks to reduce paper invoicing, simplify and standardise procurement and related spend management processes, and provide suppliers with a unified platform for simpler and faster global transacting. Coupa has been tasked with transforming Munich Re’s ... Read the full article
Munich Re closes longevity swap deal with Lafarge pension scheme
18th February 2019
German reinsurer Munich Re has completed a longevity swap deal with the Trustee of Lafarge UK Pension Plan, the UK pension scheme of French industrial company Lafarge. The arrangement is intended to reduce the Plan’s exposure to longevity risk, which arises when pensioners live longer than expected and thus claim more ... Read the full article
Cyber risks spare no market, sector, or company: Munich Re’s Martin Kreuzer
14th February 2019
The growing cyber threat is proving to be a challenge for all industries, markets and companies, no matter the shape or size, according to reinsurance giant Munich Re. Commenting on the Ryuk ransomware (an updated version of the HERMES ransomware family by North Korea APT Lazarus Group), Martin Kreuzer, a cyber ... Read the full article
Munich Re partner looking to drop stake in Indian health venture, report sources
13th February 2019
The founders of India’s Apollo Hospitals Enterprise are reportedly planning to sell their stake in a joint health insurance venture with Munich Re, according to sources at Bloomberg. People with knowledge of the matter told the publication that Prathap C. Reddy and his family were looking to sell their entire holding ... Read the full article
Commercial auto insurtech INSHUR gets $7m Series A led by Munich Re
13th February 2019
INSHUR, a 100% digital provider of commercial auto insurance, has raised a $7 million Series A funding round which was led by Munich Re Ventures, the insurtech investments arm of the reinsurer. INSHUR secured $7 million of equity funding from the Series A round, as well as a further $2 million ... Read the full article
Munich Re’s ERGO to sell Russian non-life arm to RESO-Garantia
12th February 2019
German reinsurer Munich Re has announced that it intends to sell the Russian non-life re/insurance business of its ERGO International division to Moscow-based insurer RESO-Garantia. The property and casualty (P&C) subsidiary provides a range of insurance solutions both in Russia and internationally, including motor, voluntary health coverage, property, mortgage, travel, accident, ... Read the full article
Munich Re launches wind farm insurance product: reports
11th February 2019
Global reinsurance giant Munich Re has launched a product that provides wind farm operators cover against revenue losses due to fluctuations in wind speeds, according to reports from Reuters. Munich Re hopes to cover one gigawatt (GW) of wind power capacity in 2019 with this new insurance product, which can be ... Read the full article
Munich Re profits fall, reports stable pricing at 1/1
6th February 2019
Global reinsurance giant Munich Re saw fourth quarter profits fall 56% year-on-year to €238 million following the impact of the California wildfires in November and volatile financial markets towards the end of year. The company’s net profit of €2.2 billion for the year was, however, in line with its target of ... Read the full article
Munich Re takes stake in German Research Centre for AI
1st February 2019
Global reinsurance giant Munich Re has become a shareholder in the German Research Centre for Artificial Intelligence (DFKI), a leading European institute for the research of robotics, smart factories and immersive quantified learning. The partnership hopes to create new impulses in the fields of artificial intelligence and data analytics, and will ... Read the full article
Munich Re opens new Representative branch in Bangkok
31st January 2019
Global reinsurance giant Munich Re has announced the opening of a new representative office in Bangkok, Thailand, underlining its commitment to the region for the long-term. In line with the opening of its new office, Munich Re has named Lucien Heijstee as Chief Representative for Thailand. He joins the reinsurer from Thaivivat Insurance ... Read the full article
$872m of premium accepted by foreign reinsurers between 2017-18: IRDA
21st January 2019
The International Regulatory and Development Authority of India (IRDA) says a total of $872 million in reinsurance premium was accepted by foreign reinsurance branches in 2017-18, with Swiss Re taking the largest share at $287 million. Munich Re and SCOR reported $183 million and $166 million, respectively. In the same time period, ... Read the full article
Munich Re pegs 2018 insured cat losses at $80bn, double the 30-year average
8th January 2019
Global reinsurance giant Munich Re has revealed an $80 billion industry loss from 2018’s natural catastrophes, a figure which, despite falling well short of the $350 billion inflicted in 2017, represents a near doubling of the $41 billion 30-year average. This estimate by Munich Re mirrors Swiss Re's prediction last ... Read the full article
Munich Re appoints Nicholas J. Gartside CIO
7th January 2019
Munich Re has announced the appointment of Nicholas J. Gartside, a Managing Director at J.P Morgan Asset Management, as a member of the Board of Management and Chief Investment Officer. As CIO, Gartside will be responsible for the whole Asset Management of Munich Re (Group), starting on 18 March 2019. Gartside is ... Read the full article