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 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
Munich Re to partner with American Cancer Society on grants, research
20th February 2020
The US Life division of reinsurance giant Munich Re is partnering with the American Cancer Society on cancer-related research initiatives, as well as helping partially fund two ACS Research Scholar Grants. ACS supports research and training grants in a range of cancer-related disciplines at 57 institutions across the US and since ... Read the full article
Munich Re signs up to UN carbon-neutral investment pledge
14th February 2020
German reinsurer Munich Re has signed up to the Net-Zero Asset Owner Alliance, an international group of institutional investors that have committed to decarbonise their portfolios to net-zero emissions by 2050. Convened by the United Nations (UN), the Alliance aims to help avoid a global temperature increase above the 1.5°C Paris ... Read the full article
Analysts lower Munich Re’s FY19E net income by 8%
12th February 2020
Analysts at J.P. Morgan expect reinsurance giant Munich Re's property and casualty (P&C) segment to fall to an underwriting loss in the fourth-quarter of 2019, while the firm's Life reinsurance division is expected to produce a below run-rate quarter. Overall, analysts expect that Munich Re will report a combined ratio of ... Read the full article
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