Reinsurance News
29th October 2018
Munich Re has entered into a strategic partnership as a Founding Anchor Partner of Plug and Play China, the Chinese business of Plug and Play, a global start-up accelerator and corporate innovation platform. Plug and Play, which is headquartered in Silicon Valley, enables corporations to engage with start-ups that may complement their ... Read the full article
25th October 2018
The U.S branch of global reinsurance firm Munich Re is to offer inland personal lines flood coverage to its insurance carriers and agency partners that use BriteCore, a web-based insurance administration platform. The endorsement from Munich Re America is available to homeowners who live outside of a Special Flood Hazard Area ... Read the full article
24th October 2018
A new survey by The Hartford Steam Boiler Inspection and Insurance Company (HSB), a subsidiary of reinsurance giant Munich Re, has identified a rise in losses related to fraudulent business emails in the U.S. HSB found that 58% of business executives polled by cyber insurance and services provider Zogby Analytics said ... Read the full article
22nd October 2018
The UK’s decision to leave the European Union and withdraw from the Single Market may represent part of a global political trend towards ‘closed societies’ that is likely to negatively impact re/insurers in the long-term, according to Michael Menhart, Chief Economist at Munich Re. Speaking during a presentation at Lloyd’s last ... Read the full article
22nd October 2018
Global reinsurance firm Munich Re has said that it is preparing for “exponential” growth in demand for cyber re/insurance coverage by developing updated, flexible solutions and exploring new technology-based partnerships. In a recent statement, the reinsurer noted that the cyber threat is developing rapidly alongside digitalisation efforts, and is a risk ... Read the full article
19th October 2018
Arndt Gossmann, the founder and owner of Gossmann & Cie, has announced the establishment of Expiring Policy Roll-Over (working title), a product that, with Munich Re as a reinsurance partner, allows the ongoing transfer of insurance contracts expiring in the future to an external risk carrier. This enables insurers to release ... Read the full article
19th October 2018
German reinsurance giant Munich Re was hit by large natural catastrophe losses during the third quarter of 2018, although claims are likely to remain within the company’s budget, according to sources at Reuters. The company also saw some losses related to claims from the Genoa bridge collapse in Italy, although these ... Read the full article
18th October 2018
The Nomination Committee of German reinsurance giant Munich Re has recommended that former Chief Executive Officer (CEO) Nikolaus von Bomhard be nominated for election as Chairman of the company’s Supervisory Board. If elected, von Bomhard would take over the role of Chairman from Bernd Pischetsrieder, who is not standing for re-election ... Read the full article
12th October 2018
MSP Underwriting, a global specialty underwriter and Munich Re subsidiary, has been acquired by Cincinnati Financial Corporation for an all-cash transaction of £102 million. Based on MSP’s projected net asset value at closing, the deal will see the firm become a wholly-owned subsidiary of Cincinnati Financial and will continue to operate ... Read the full article
11th October 2018
Analysts at J.P Morgan have raised reinsurer Munich Re’s fiscal year net profit forecast from €2.561 billion to €2.725 billion ($2.953 billion to $3.142 billion) following above-expected net profits in H1 2018. Munich Re reported €1.5 billion net profits in H1, well above the €1.1 billion to €1.2 billion run rate ... Read the full article
4th October 2018
The Boiler Inspection and Insurance Company of Canada (BI&I), a subsidiary of reinsurer Munich Re, has announced the launch of a new personal lines cyber insurance product for consumers in Canada, called Home Cyber Protection. The product will offer a suit of coverages and services for cyber attacks, cyber extortion, online ... Read the full article
3rd October 2018
Munich Reinsurance America, Inc. (Munich Re) has partnered with online driver training provider and global risk management firm eDriving to offer companies with commercial fleets a driver risk reduction program. eDriving warranties that organisations will reduce the number of collisions by at least 20% in the first program year or the ... Read the full article
1st October 2018
Munich Re has appointed Mari-Lizette Malherbe as Chief Executive Officer (CEO) of Munich Re London (Life Branch), the company’s UK & Ireland life reinsurance business, succeeding outgoing CEO Andy Batley. Malherbe has over a decade of international experience in the reinsurance industry and joined the senior management team of Munich Re ... Read the full article
28th September 2018
Global reinsurance firm Munich Re is expected to continue to grow its portfolios of life and particularly non-life business over the next decade, as it aims for a larger market share even though it expects relatively flat pricing in the short-term. Munich Re wants to jump from the roughly 6% U.S. ... Read the full article
27th September 2018
HSB Engineering Insurance, a specialist engineering and construction insurer and Munich Re subsidiary, has appointed John Nicholls and Jamie Talbot to new senior underwriting positions within the business. Nicholls has been promoted to Construction Product Lead within the Underwriting Strategy and Standards team, reporting to Andy Bazley, Underwriting Strategy Manager. He has ... Read the full article
