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 achieves P&C reinsurance CR of 86.5% despite higher than expected major losses
28th April 2023
German reinsurance giant Munich Re has announced a property and casualty (P&C) reinsurance combined ratio of roughly 86.5% for the first quarter of 2023, despite major losses from natural catastrophe events trending higher than expected. A P&C reinsurance combined ratio of 86.5% for the quarter is only slightly higher than the ... Read the full article
Munich Re launches ‘innovative’ coverage for AI solutions
28th April 2023
Munich Re has launched aiSelf™, an "innovative" coverage for users who implement self-developed Artificial Intelligence (AI) solutions in their own companies. "This new cover enables you to mitigate the underperformance, unreliability and drift of machine learning models," Munich Re said. Munich Re provides insurance coverage to protect companies from potential financial losses ... Read the full article
RiskPoint Group partners with Munich Re to improve coverage for offshore wind industry
26th April 2023
RiskPoint Group's Renewable Energy team has partnered with Munich Re's Greentech Solutions Team to enhance coverage for offshore wind contractors, manufacturers, and suppliers. This partnership will bring together the global distribution and technical proficiency of RiskPoint with Munich Re's financial strength, due diligence capabilities, and product design expertise, resulting in a ... Read the full article
Hannover Re the latest to leave Net-Zero Insurance Alliance
19th April 2023
German reinsurance giant Hannover Re has, after careful consideration, opted to leave the Net-Zero Insurance Alliance (NZIA), making it the third high profile re/insurer to leave the UN-convened alliance in less than a month. Hannover Re joins NZIA founders Munich Re and Zurich in leaving the association, which was launched at ... Read the full article
Munich Re Specialty Insurance makes Hart permanent CEO
19th April 2023
Munich Re Specialty Insurance (MRSI), a division of German reinsurance giant Munich Re, has named Sabrina Hart as President and CEO, effective May 1. Hart, who served as interim CEO since January 2023, will report to former CEO Michael Kerner and will also serve as a member of the Global Specialty ... Read the full article
Leonid Rousniak joins NewRe as Senior Structurer
5th April 2023
New Reinsurance Company (NewRe), a Swiss reinsurer and Munich Re subsidiary, has appointed Leonid Rousniak to the role of Senior Structurer, a Zurich based role. Rousniak joins NewRe from SCOR, where he served for almost seven years. He held a number of positions during his time with the global reinsurer, ... Read the full article
Zurich joins Munich Re in withdrawing from Net-Zero Insurance Alliance
5th April 2023
Zurich, a global multi-line insurance company, has confirmed its withdrawal from the Net-Zero Insurance Alliance (NZIA), citing a desire to focus its resources to support its customers with their transition. The NZIA is a group of 30 insurers and reinsurers representing around 15% of world premium volume globally. The aim is ... Read the full article
Munich Re quits Net-Zero Insurance Alliance
31st March 2023
Global reinsurer Munich Re has announced the discontinuation of its membership in the Net-Zero Insurance Alliance (NZIA), citing antitrust risks as limiting the scope of its decarbonisation goals. The UN-convened NZIA is a group of 30 insurers and reinsurers representing approximately 15% of world premium volume globally, who together aim to ... Read the full article
Europe’s big four hit by weaker underwriting & investment losses: Fitch
27th March 2023
Hannover Re, Munich Re, SCOR and Swiss Re all reported lower earnings for 2022 as high inflation, rising interest rates and climate-related costs led to lower underwriting and investment results, suggests a new report from Fitch Ratings. The rating agency notes that in 2022, attempts to raise prices proved to be ... Read the full article
Munich Re and PSG announce new risk assessment solution
23rd March 2023
Munich Re Life US and insurtech Paperless Solutions Group (PSG) have announced a new combined risk assessment and e-application solution, that allows life insurance carriers to underwrite new policies faster and with greater accuracy. The solution combines the risk assessment and instant decisioning power of Munich Re’s alitheia with the seamless ... Read the full article
AI must be integrated into underwriting and claims processes: Munich Re’s Greene
6th March 2023
As artificial intelligence (AI) and machine learning technology continues to grow and expand within the industry, Patrick Greene, Vice President of Data at Munich Re Automation Solutions suggests that, eventually, AI must be “fully integrated” into the underwriting and claims process. “Those that have invested in state-of-the-art underwriting rules engines are ... Read the full article
Munich Re & WTW ally with DAS Solar on PV Module Warranty Insurance
6th March 2023
Munich Re Green Tech Solutions Team and WTW's Power and New Energy Team have partnered with DAS Solar on PV (Photovoltaic) Module Warranty Insurance. DAS Solar states that as a reinsurance market leader, Munich Re's policy acts as a strong backbone to its PV module and further enhances the credibility of ... Read the full article
Munich Re Automation Solutions’ SPARK adopted by Thai Life Insurance
27th February 2023
Munich Re Automation Solutions has announced that Thai Life Insurance has selected its cloud-based automated underwriting solution, ALLFINANZ SPARK to streamline the process of its life insurance applications. Munich Re Automation Solutions describes ALLFINANZ SPARK as a SaaS-based automated underwriting and analytics service that clients can implement easily into their current ... Read the full article
Jan renewals showed Munich Re is “clearly” the preferred reinsurer: Wenning
24th February 2023
Joachim Wenning, Chair of the Board of Management at Munich Re, has suggested that the January renewals showed that the firm is "clearly" the preferred reinsurer, citing reliability as an attribute that its clients appreciated. In an address covering the firm's 2022 results, Wenning noted that Munich Re's risk appetite ... Read the full article
Munich Re downsizes retro program for 2023
23rd February 2023
Munich Re has disclosed details of its retrocession program for 2023, showing that it shrunk its coverage somewhat amid the capacity squeeze of the January renewals. The reinsurer cited “a very challenging market environment” at 1/1 but said that its retro placement nevertheless remained “robust”. Details of the program were released alongside ... Read the full article
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