Reinsurance News
9th September 2018
The re/insurance industry is at risk of becoming irrelevant if it avoids the challenge of tackling cyber risk, which also remains an area with huge growth potential, according to senior executives at German reinsurance giant Munich Re. Speaking at a media conference on the first day of the Rendezvous event in Monte ... Read the full article
5th September 2018
Munich Re has recovered the No. 1 position from Swiss Re in A.M. Best’s annual ranking of the Top 50 Global Reinsurance Groups, which also saw Warren Buffett’s Berkshire Hathaway climb two places to No. 3, pushing Hannover Rück SE and SCOR SE to the four and five spots respectively. Read the full article
4th September 2018
Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article
30th August 2018
Munich Re Specialty Group (MRSG), a division of reinsurance giant Munich Re, has appointed Steven Weiss and Ben Tucker to lead its expanding underwriting team in the Americas. Weiss has been named Senior Vice President (SVP)/Chief Underwriting Officer (CUO) of Ocean and Inland Marine Insurance. He brings 28 years’ experience as ... Read the full article
23rd August 2018
Philipp Wassenberg, President and Chief Executive Officer (CEO) of Munich Re Canada and Temple Insurance Company, has announced the appointment of Rissa Revin as CEO of its MGA subsidiary, DAS Legal Protection Inc., effective September 1, 2018. Revin’s appointment follows the recent amalgamation of DAS Canada and Temple, and she will ... Read the full article
8th August 2018
Global reinsurance giant Munich Re has announced its results for the second-quarter and first-half of 2018, revealing a larger than expected hit from major man-made losses that dented the performance of its property casualty reinsurance segment. Overall, the reinsurer has reported Q2 profit of €728 million and H1 2018 profit of ... Read the full article
6th August 2018
Joachim Wenning, the CEO of the world's largest reinsurance company Munich Re, has confirmed in an interview that the reinsurer will step away from investing in and underwriting coal related business. Wenning tells German newspaper the Frankfurter Allgemeine Zeitung (FAZ) that Munich Re wants to follow a climate strategy that Read the full article
30th July 2018
Ethos, the specialty wholesale life insurance broker, has announced that it is partnering with Munich Re on the provision of reinsurance services, and is working with Assurity Life Insurance, a mutual insurance organisation, as its underwriting partner. The partnerships will enable Ethos to better deliver its digital life insurance solutions to ... Read the full article
24th July 2018
Munich Reinsurance America, Inc., a subsidiary of reinsurance giant Munich Re, has launched a new U.S commercial inland flood product aimed at small businesses and habitational properties located in low-to-moderate flood zones. The endorsement offers insurance protection for the building, contents (including business property in a basement), business interruption/extra expense, the ... Read the full article
24th July 2018
Munich Re member firm The Hartford Steam Boiler (HSB) has launched a new generation of its Sensor Systems solution; sensors and software that connect equipment and facilities through the Internet of Things (IoT). Delivered as a kit for commercial customers, the sensors use proprietary algorithms to help prevent loss and improve ... Read the full article
17th July 2018
Munich Re has announced that it intends to restructure and reallocate responsibilities on its Board of Management in order to improve business synergies and simplify structures and processes. The company said that the reorganisation will mean larger divisions and the reallocation of units, but no changes to the composition of the ... Read the full article
17th July 2018
Munich Re’s long-standing Chief Financial Officer (CFO) and Board of Management member Jörg Schneider is to step down at his own request on December 31st, 2018. Christoph Jurecka, who has served as CFO of Munich Re’s primary insurance subsidiary ERGO Group AG for the past seven years, has been announced as ... Read the full article
11th July 2018
A report by Munich Re has revealed fewer severe natural disasters across the first-half of 2018 saw overall losses fall to its lowest level since 2005, with insured losses down from 2017, while stressing that the later months may yet prove costly. The $33 billion total losses were roughly half those of ... Read the full article
6th July 2018
Reuters has reported that global reinsurance giant Munich Re is to continue underwriting coal business in spite of investor pressure to follow the likes of fellow reinsurers Swiss Re and SCOR. Swiss Re announced recently that is to begin implementing its thermal coal policy first announced in June 2017, which sees ... Read the full article
5th July 2018
Munich Re’s Chief Executive Officer (CEO), Joachim Wenning has highlighted the potential of new technologies and called for the insurance industry to “keep doing what it has been doing for centuries and remain innovative.” Speaking at the 45th General Assembly of the Geneva Association - a 90-member strong think tank designed ... Read the full article
