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 and Bosch partner for Industry 4.0 and IoT

22nd February 2018

Global reinsurance giant Munich Re has signed a cooperation agreement with international technology and service company Bosch, in an effort to develop new solutions for connected manufacturing in Industry 4.0. The agreement was signed on February 22nd, 2018 at the Bosch ConnectedWorld conference, and is the first Internet of Things (IoT) ... Read the full article

Munich Re utilises Starmind’s AI to transform knowledge management

13th February 2018

Global reinsurance giant Munich Re is working with Starmind to transform and improve the reinsurer's knowledge management through advanced technology and artificial intelligence (AI). Starmind's technology is designed to expand human ingenuity by applying neuroscientific principles to AI, and reinsurer Munich Re is looking to transform its knowledge management via a ... Read the full article

Rate improvements to continue in 2018: Munich Re CFO, Schneider

9th February 2018

Jorg Schneider, the Chief Financial Officer (CFO) of reinsurance giant Munich Re, is anticipating further and increased rate improvements at the upcoming April and mid-year renewals, owing to a stronger element of the business being non-proportional and natural catastrophe focused. Speaking during the Germany-based reinsurer's fourth-quarter 2017 earnings call, Schneider noted ... Read the full article

Munich Re reportedly planning efficiency drive, job cuts

7th February 2018

German reinsurance giant Munich Re is reportedly looking to cut its costs, with an internal memo suggesting that an efficiency drive is underway at the reinsurer, including potential reductions in headcount. With reinsurance companies needing to address expense ratios, while at the same time grappling with the promised streamlining of their ... Read the full article

Munich Re’s operating profit falls in 2017 but reinsurer expects continued market improvement

6th February 2018

Reinsurance giant Munich Re has reported profit of €538 million for the fourth-quarter of 2017 and €392 million for the full-year, while high natural catastrophe losses saw its operating result for the year decline to €1.24 billion from more than €4 billion in 2016. The group's gross written premiums in 2017 ... Read the full article

Physical activity a “powerful predictor” of mortality risk: Munich Re

5th February 2018

A Munich Re study has found strong evidence that physical activity, as measured by steps per day, is a powerful predictor of mortality and may be especially effective in identifying high mortality risk for sedentary behaviour. Munich Re assessed the effectiveness of physical activity - as measured by wearable sensors - in ... Read the full article

Munich Re’s HSB Group leads $16.5mn funding round for AI firm Mnubo

31st January 2018

Led by Munich Re's HSB Group, Mnubo has raised $16.5 million in an oversubscribed Series B financing bid to fund manufacturers' uptake of its SmartObjects IoT Analytics and Data Science solutions. Other investors in the internet of Things (IoT) Data Analytics and Artificial Intelligence (AI) company's funding bid include White Star ... Read the full article

Munich Re establishes tech-based intelligent insurance centre in Beijing

24th January 2018

Global reinsurance giant Munich Re has announced the establishment of a new technology-based insurance centre in Beijing, China, called Smart Thinking Consulting (Beijing) Company Limited, designed to provide intelligent solutions to its new and existing Chinese business partners. The new centre is based in Beijing's Guomao region, and is home to ... Read the full article

Munich Re partners with insurtech Betterview for drone imagery, analysis, reporting

18th January 2018

Global reinsurance player Munich Re has entered into a partnership with insurance technology and drone start-up Betterview, that will see the Munich Reinsurance America, Inc. unit offering drone imagery, analysis and reporting to its insurance company clients. Munich Re will refer any of its insurance company clients that might benefit from ... Read the full article

Munich Re’s Ergo sells legal insurance subsidiaries to Allianz

10th January 2018

German insurance and reinsurance group Munich Re has sold three of its ERGO Group operated legal insurance subsidiaries to Allianz Group. ERGO Group AG has sold its legal protection insurance subsidiary DAS Switzerland and the assets of DAS Luxembourg and Slovakia to Allianz, as it seeks to rationalise its primary insurance ... Read the full article

Munich Re & easyJet develop business interruption cover for flight cancellation risks

9th January 2018

Reinsurance giant Munich Re and low-cost carrier airline easyJet have collaborated to create a new insurance product that is designed to provide business interruption style coverage to airlines when major flight cancellation issues occur. The comprehensive cover is being described as the first product to protect airlines against the costs of ... Read the full article

2017 insured losses from nat cats almost 3x above average: Munich Re

4th January 2018

At $135 billion, insured losses from global natural catastrophe events in 2017 were nearly triple the ten-year, inflation-adjusted average of $49 billion, driven by the costliest hurricane season on record, according to reinsurance giant Munich Re. Economic losses from natural catastrophes totalled a huge $330 billion in 2017, making it the ... Read the full article

Munich Re acquires additional 11% of Global Aerospace shares

15th December 2017

Munich Re has agreed to buy an additional 11% of the shares in Global Aerospace Underwriting Managers Limited, the company that manages the Global Aerospace Pool. The acquisition brings Munich Re's total shares up to 51%, with the remaining 49% split with a subsidiary of Warren Buffett's Berkshire Hathaway. “We are fortunate in ... Read the full article

Nearly a third of U.S. businesses experienced a data breach: Survey

13th December 2017

According to a recent survey for The Hartford Steam Boiler Inspection and Insurance Company (HSB), a division of global reinsurer Munich Re, 29% of U.S. businesses experienced a data breach in the previous year. The survey was conducted by Zogby Analytics for HSB, as part of a continuing effort by HSB ... Read the full article

Marc-André Giguère named President & CEO of Munich Re, US (Life and Health)

8th December 2017

Global reinsurer Munich Re has announced that Marc-André Giguère is to replace Michael DeKoning as President and Chief Executive Officer (CEO) of Munich Re, US (Life and Health), effective January 1st, 2018. The reinsurer announced that after ten years leading Munich Re US (Life), DeKoning has decided not to renew his contract. Under ... Read the full article