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 sees a “variety of opportunities” amid pandemic: CFO Jurecka

18th May 2020

Munich Re sees a “variety of opportunities” available as it prepares to traverse the post COVID-19 marketplace, according to Chief Financial Officer (CFO) Christoph Jurecka. Speaking during a call alongside the release of the reinsurer’s Q1 results, Jurecka noted that there was a lot of demand of catastrophe reinsurance at ... Read the full article

Munich Re provides reinsurance for Chinese solar firm Talesun

14th May 2020

Munich Re is set to provide reinsurance services for Chinese photovoltaic (PV) manufacturer Talesun Solar Technologies. The reinsurance agreement includes 12 years of products quality guarantee for Talesun, 25 years of regular PV module and 30 years of double-glass module in efficiency guarantee. Talesun believes the coverage will protect the financial risks ... Read the full article

Munich Re’s Q1 profit falls as COVID-19 losses reach €800mn

7th May 2020

Reinsurance giant Munich Re has reported COVID-19 related losses of roughly €800 million in the first-quarter of the year, leading to a 65% year-on-year decline in net profit to €221 million. At the same time, Munich Re's operating profit declined from the €771 million recorded in Q1 2019 to €397 million ... Read the full article

Munich Re Syndicate names Natasha Jodrell as Deputy CUO

30th April 2020

Munich Re Syndicate, the Lloyd's of London Marine & Specialty underwriter of reinsurance giant Munich Re, has appointed Natasha Jodrell as its new Deputy Chief Underwriting Officer (CUO) and as a member of its Executive Committee, effective May 1st, 2020. In her new role, Jodrell will be based in London and ... Read the full article

Munich Re dividend approved despite COVID-19 pressure

29th April 2020

Munich Re shareholders have approved a dividend of €9.80 per share at the reinsurer’s annual general meeting (AGM), despite mounting pressure from the COVID-19 pandemic. The AGM, which was held online due to the pandemic, also granted renewed authorisation to buy back shares and elected Carsten Spohr to the Supervisory Board. Spohr ... Read the full article

Risk Placement Services partners with Munich Re Specialty

16th April 2020

Wholesale insurance broker Risk Placement Services (RPS), has announced a new public entity program for clients through a partnership with Munich Re Specialty Insurance (MRSI). The new program expands upon an existing partnership with MRSI and offers a first dollar, low deductible insurance product for public entities and special districts. The packaged ... Read the full article

Munich Re is well placed to manage earnings setback, market volatility: S&P

14th April 2020

S&P Global Ratings expects reinsurance giant Munich Re to maintain its capital adequacy in 2020 and 2021, despite the firm withdrawing its profit guidance for the current year in light of the ongoing COVID-19 pandemic. Prior to the coronavirus pandemic, the reinsurer expected to achieve profit for 2020 of €2.8 billion. ... Read the full article

Munich Re Specialty names Ironshore’s Hui Yun Boo as Head of Asia

2nd April 2020

Munich Re Specialty Group, a division of global reinsurer Munich Re, has announced the appointment of Hui Yun Boo as Head of Asia, effective April 3rd, 2020. In her new role, Hui Yun will be based in Singapore and will be responsible for leading the reinsurer's Syndicate offices throughout the Asia ... Read the full article

Munich Re withdraws 2020 profit guidance on COVID-19 impacts

1st April 2020

Global reinsurance giant Munich Re has withdrawn its profit guidance for 2020 as a result of the significant macroeconomic and financial uncertainty caused by the COVID-19 pandemic. The reinsurer states that during the opening quarter of 2020, its property - casualty reinsurance division experienced considerable claims burden from losses related to ... Read the full article

Munich Re-backed Sepio Systems hits $15mn in funding

27th March 2020

Global reinsurer Munich Re has acted as lead investor for Sepio Systems, a leader in Rogue Device Mitigation. Following the recent Series A round, Sepio secured an additional $4 million from Munich Re Ventures and Hanaco Ventures, which brings the total investment in the company to $15 million. Alongside the investment, Sepio ... Read the full article

Swiss Re has $250mn exposure to Tokyo Olympics cancellation: CFO Dacey

20th March 2020

Global reinsurance giant Swiss Re has a specific exposure of USD 250 million to the cancellation of the 2020 Tokyo Olympics, and also potential exposure in other lines as a result of the COVID-19 outbreak. Scheduled to commence on the 24th of July 2020, the ability for the Tokyo Olympics to ... Read the full article

Munich Re-backed parametric quake product launched in Mexico by Super

3rd March 2020

Super Seguros Inc., acting through their local subsidiary (which was established as Mexico's first approved insurance MGA), has announced the launch of a new parametric insurance solution to protect against earthquakes for the retail consumer market in Mexico City, backed by reinsurer Munich Re. The new solution, Super Temblor, is a ... Read the full article

Munich Re exceeds FY19 profit target but major losses dent P&C result

28th February 2020

Global reinsurance giant Munich Re has announced that it exceeded its original profit guidance by €200 million in 2019, despite a high impact from catastrophe losses hitting the performance of its P&C reinsurance segment in the fourth-quarter. For the full year 2019, Munich Re has announced profits of €2.7 billion, which ... Read the full article

Munich Re approves €1bn share buy-back

26th February 2020

Reinsurance giant Munich Re is to buy back shares for a maximum total purchase price of €1 billion in the period between 30 April 2020 and, at the latest, the Annual General Meeting on 28 April 2021. Returning capital is one way to reduce the drag excess can cause if there ... Read the full article

Munich Re-backed At-Bay raises $34mn in Series B round

24th February 2020

At-Bay, a cyber insurance start-up writing policies through Munich Re’s HSB Specialty Insurance Company, has announced a $34 million Series B funding round. Led by Munich Re Ventures and Acrew Capital, the new investment brings At-Bay’s total funding to $51 million. At-Bay offers continuous vulnerability monitoring across the perimeter of each portfolio ... Read the full article

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