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 appoints Rissa Revin as CEO of DAS Legal Protection MGA
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
Munich Re stays on track despite significant rise in major man-made losses
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
Munich Re CEO confirms company will step back from coal
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
Ethos enters partnership with Munich Re and Assurity Life
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
Munich Re launches new commercial U.S inland flood solution
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
Munich Re’s HSB launches IoT sensors for building owners
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
Munich Re restructures and changes Board responsibilities
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
Munich Re CFO Jörg Schneider to step down, Christoph Jurecka incoming
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
Overall losses from disasters in H1 2018 lowest in over a decade: Munich Re
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
Munich Re to continue underwriting coal, reports Reuters
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
Re/insurers must remain innovative to seize potential of new tech: Munich Re CEO
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
Reduced exposure to volatile lines to improve earnings visibility: J.P. Morgan
4th July 2018
Analysts at J.P. Morgan have said that the decision of some re/insurers to reduce their exposure to more volatile lines of business, namely natural catastrophe exposures, and focus on other, more stable classes, will lead to better earnings visibility as well as a faster rerating. Focusing mostly on the actions taken ... Read the full article
“Our DNA is changing”, says Munich Re CIO
3rd July 2018
The 2018 Tech Trend Radar report by Munich Re emphatically underlines the rate at which it expects new technologies to transform customers’ demands and expectations over the next two decades. This trend towards greater-connectivity is one that re/insurers must understand, accept and integrate into its framework into to secure longevity, says ... Read the full article
Reinsurers unlikely to earn back 2017 catastrophe losses: Deutsche Bank
2nd July 2018
Deutsche Bank equity analysts have suggested that global reinsurance companies are unlikely to earn back 2017 catastrophe losses as a result of insufficient rate increases at the January, April and June renewals, with further disappointment expected through July. Deutsche Bank analysts recently met with management of global reinsurance giant Munich Re, ... Read the full article
Munich Re partners with digital insurer ONE on development of new product
28th June 2018
Munich Re has partnered with digital insurer ONE in the development of the new ONE Coach feature, a highly-personalised short-term insurance product based on individual lifestyle and location, in what it claims is the biggest joint-venture in Insurtech history. The feature will use encryption technology to utilise factors such as work ... Read the full article