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 releases cyber exposure cover for oil & gas sector
21st August 2017
Munich Re's syndicate at Lloyd's of London has expanded its cyber solutions to include cyber exposure cover for the independent oil and gas sector, which goes beyond traditional data breaches to cover physical losses or expenses associated with cyber-attacks. The operational and financial complexity of this particular sector presents growing threats to ... Read the full article
European reinsurers’ cat budgets strong, only a very large loss will turn pricing: RBC
17th August 2017
With the peak of the Atlantic hurricane season approaching uncertainty remains for European reinsurers driven by the potential for large losses, but with annual catastrophe budgets being relatively high, only the most severe loss event would start a turn in the market, according to RBC Capital Markets. Based on historical data, September ... Read the full article
InsurTechs won’t be able to disrupt the entire industry: Munich Re’s Jeworrek
14th August 2017
As a flurry of InsurTech and FinTech startups continue to enter the global insurance and reinsurance industry, undoubtedly some will be very good and should be promoted for the industry, however, they will not be able to disrupt the entire risk transfer space, according to Torsten Jeworrek, Munich Re's Chief ... Read the full article
AMP expands reinsurance agreements in a move to release capital
10th August 2017
AMP has announced a series of new reinsurance agreements to release about AUS$500 million as part of a strategy to reduce capital held by the Australian wealth protection business, and to reduce future earnings volatility. The new reinsurance arrangements include Gen Re and Munich Re increasing their reinsurance cover share, and ... Read the full article
Munich Re beats expectations, although reinsurance clearly pressured
9th August 2017
Reinsurance giant Munich Re reported a decline in its second-quarter profits this morning, as lower reinsurance profitability eclipsed improved performance in its Ergo primary division. However the reinsurer beat analyst expectations and remains on track for its 2017 targets. Pressures in the reinsurance market continue to be evident in the largest ... Read the full article
Mexico secures $360 million of catastrophe cover with World Bank cat bond
4th August 2017
Mexico has secured $360 million of protection against earthquake and tropical cyclone risks via a catastrophe bond transaction from the World Bank, which has now completed. The deal is structured into three tranches, with one providing protection against Mexico earthquakes, one against Atlantic tropical cyclones, and one providing coverage against Pacific ... Read the full article
More quakes could challenge availability of affordable cover in NZ, warns Munich Re
26th July 2017
More earthquakes in New Zealand could see commercial building owners struggle to find adequate, effective and affordable insurance protection for the risk, warns Munich Re's Scott Hawkins. General Manager, Non-life, Munich Re Australasia, Hawkins, warned of the risks during a speech at a recent building industry conference held in Wellington, New Zealand, according ... Read the full article
Q2 result expected to keep Munich Re on track for 2017 profit ambition: J.P. Morgan
21st July 2017
Munich Re is expected to record increased first-half 2017 profits of roughly €1.45 billion (US$1.67 billion) driven by a strong Q2, which suggests the reinsurer is on track to meet its full-year 2017 €2 billion - €2.4 billion (US$2.31 billion - US$2.66 billion) net profit ambition, according to analysis from J.P. ... Read the full article
Munich Re first foreign reinsurer to announce Iran deal after removal of sanctions
20th July 2017
Iran's Saman Insurance has become the first Iranian insurer to purchase life reinsurance from a foreign firm following the removal of international sanctions in 2016, after signing a deal with Munich Re to reinsure risks in life insurance and capital formation categories, the Financial Tribune reported. Ahmadreza Zarrabieh, Chief Executive Officer (CEO) ... Read the full article
U.S. thunderstorms lead mid-year catastrophe losses: Munich Re
19th July 2017
2017 severe weather event related insurance and reinsurance losses have been largely dominated by a series of severe U.S. hailstorms and tornadoes which each incurred costs in the billions, although overall, global catastrophe losses have been well below the ten-year average, Munich Re said in its natural catastrophe review for January to ... Read the full article
Munich Re focusing on continuity over potential increases, says Deutsche Bank
14th July 2017
Munich Re Chief Executive Officer (CEO), Joachim Wenning, recently explained how the reinsurer's strategy remains unchanged with a push for growth sending the wrong signals that would ultimately result in the wrong results, with continuity seemingly being the firm's focus in the current market environment, reports Deutsche Bank analysts. Deutsche Bank recently met ... Read the full article
National General enters into auto & homeowners quota shares with panel of reinsurers
13th July 2017
National General Holdings Corp. has entered into individual two-year quota share reinsurance arrangements with a number of reinsurers, including Hannover Re, Munich Re and Everest Re, covering its auto and homeowners business lines. The first two-year quota share reinsurance agreement concerns National General's auto business, the Auto Quota Share Agreement, and sees the ... Read the full article
Protector estimates £50mn Grenfell Tower loss, reinsurers to pay bulk
7th July 2017
Protector Forsikring ASA of Norway, the insurer of the Grenfell Tower block in London’s Royal Borough of Kensington and Chelsea, has estimated that the tragic fire that occurred at the apartment block will cost an estimated £50 million (US$64.4mn), with the majority being assumed by the reinsurance industry. According to Protector's Q2 2017 ... Read the full article
Munich Re launches customised drone insurance cover
6th July 2017
Munich Re America, a division of reinsurance giant Munich Re, has launched a new commercial drone insurance product offering a customised liability solution for small to medium-sized clients of insurers. The new product comes in response to increased opportunities for drone use in the U.S. after Federal Aviation Agency (FAA) Rule ... Read the full article
Munich Re names two new Executive Vice Presidents
5th July 2017
Munich Re U.S. Life has announced Marc-André Giguère's promotion to Executive Vice President (EVP) of Reinsurance, and Micheal Taht as newly promoted EVP of Research Analytics and Underwriting. Prior to joining Munich Re in 2015, Giguère worked in the U.S. for 20 years with Ernst & Young and Towers Perrin. Michael DeKoning, President ... Read the full article
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