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 opts against providing fresh profit guidance for 2020 on COVID-19
23rd June 2020
Global reinsurance giant Munich Re has said that while it continues to stand on firm economic footing, the losses and uncertainty being caused by the ongoing COVID-19 pandemic means that it will not meet its previously announced profit guidance for 2020. The reinsurer announced on April 1st, 2020 that it ... Read the full article
Munich Re’s Roanoke partners with travel insurtech battleface
15th June 2020
Roanoke Travel Insurance, a subsidiary of Munich Re Specialty Group North America, has partnered with the travel insurtech startup battleface to launch product sales in the US. battleface offers travel insurance products and assistance to travelers using an API-driven platform. The arrangement with Roanoke is expected to enable the insurtech to offer ... Read the full article
Now is the time to address the climate change challenge: Jeworrek, Munich Re
15th June 2020
Torsten Jeworrek, Chief Executive Officer (CEO) of Reinsurance at Munich Re, has said that now is the time to "finally and consistently" address the climate change challenge. In recent months, the global outbreak of COVID-19 has unsurprisingly dominated headlines and, as a result, many have lost sight of the long-term global ... Read the full article
Munich Re’s HSB launches online broker trading platform in Ireland
11th June 2020
HSB, the specialist engineering and technology insurance arm of Munich Re, has launched a new broker online trading platform in Ireland, called HSB Fast Track. HSB Fast Track e-trade platform will offer brokers in Ireland a suite of HSB products that includes Construction Annual, Construction Project, Contractors’ Plant, and Computer and ... Read the full article
Munich Re’s HSB backs new machine failure cover from Augury
10th June 2020
Munich Re member firm The Hartford Steam Boiler (HSB) has backed a new warranty offering by AI-based machine health solution provider Augury, which aims to minimise financial risk from industrial machine failures. The offering, called Guaranteed Diagnostics, combines with Augury’s Machine Health platform with a repair/replacement warranty that compensates customers in ... Read the full article
Munich Re’s ERGO expands in China via Taishan investment
8th June 2020
ERGO, the primary insurance arm of reinsurance giant Munich Re, has expanded its property and casualty (P&C) services in the Chinese market via a strategic investment in Taishan Property & Casualty Insurance Co., Ltd. Once completed, the deal will see ERGO take 24.9% equity interests of Taishan Insurance through its subsidiary, ... Read the full article
Munich Re to defend ‘extremely strong’ position despite Covid hit: S&P
2nd June 2020
While S&P Global Ratings expects Munich Re's performance to decline in 2020 due to COVID-19, sufficient capital means the reinsurer will be able to defend its 'extremely strong competitive position' over the next 12-24 months. This capital position is supported by retained earnings and the temporary suspension of Munich Re's €1 ... Read the full article
Higher margins may offset fading investment income for major reinsurers: Fitch
29th May 2020
The financial earnings of the big four European reinsurers will be affected negatively by the COVID-19 pandemic in the short-term, but moving forward, improved technical pricing could largely offset fading investment returns, according to Fitch Ratings. As evidenced by first-quarter 2020 results, the financial impact of the COVID-19 pandemic for the ... Read the full article
NN Life transfers €13.5bn of longevity risk to Canada Life, Munich Re & Swiss Re
19th May 2020
A subsidiary of NN Group, NN Life, has completed three longevity reinsurance transactions with reinsurers Canada Life, Munich Re, and Swiss Re, transferring the full longevity risk associated with €13.5 billion (USD 14.8 billion) of pension liabilities in the Netherlands. The arrangements cover the risks associated with the policies of more ... Read the full article
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
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