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’s full-year profit guidance likely conservative, say analysts
3rd May 2018
Following Munich Re's recent announcement that it expects to record over €800 million in profits for the first-quarter of 2018, analysts at J.P. Morgan say this supports their belief the reinsurer will likely beat its full-year profit guidance for 2018, and through to 2020. For the full-year 2018 Munich Re is ... Read the full article
Munich Re reinsures life portfolio for Iranian insurer Mellat
1st May 2018
Global reinsurance player Munich Re has entered into an agreement with Iranian insurer Mellat Insurance Company, which will see the German reinsurer covering the entire life insurance portfolio of Mellat. Mellat said that it has covered all of the issued life insurance policies under the agreement with Munich Re, as part ... Read the full article
Munich Re unveils Smart Mobility Program to address U.S auto fleet losses
26th April 2018
Munich Re America has introduced its Smart Mobility Program, which offers a toolbox of solutions to address issues surrounding commercial auto losses and reduces the risk of collision for U.S commercial fleets. The Smart Mobility Program will also provide access to LossDetect, an automated text-mining tool that recommends solutions by analysing ... Read the full article
Munich Re “poised” for growth as it targets reduced complexity
25th April 2018
At Munich Re’s 2018 Annual General Meeting (AGM,) Joachim Wenning, Chair of the Board of Management, revealed that the company expects to increase its profits as it braces for growth by reducing operational complexity and embracing digital transformation. Wenning confirmed a profit guidance of €2.1–2.5 billion for 2018, which is higher ... Read the full article
Arch offers mortgage credit assessment services to Munich Re
25th April 2018
Arch Credit Risk Services, a unit of Arch Capital Group, has agreed to provide Munich Re with mortgage credit assessment and underwriting advisory services on a multi-year basis. The services provided by Arch will relate to Munich Re’s involvement in Credit Risk Transfer programs offered by U.S state-sponsored loan companies The ... Read the full article
Munich Re forecasts €800m profit for first-quarter 2018
24th April 2018
Global reinsurance player Munich Re has said it forecasts a profitable first quarter in 2018, with a consolidated result of more than €800 million anticipated. Munich Re had recently lifted its profit guidance for 2018 slightly over the prior year, forecasting better results thanks to improved reinsurance pricing conditions, along ... Read the full article
Munich Re backs InsurTech start-up on AI-driven online sales security
23rd April 2018
Munich Re has tested and re/insured the security algorithm of German-Israeli InsurTech start-up Fraugster, which uses artificial intelligence (AI) technology to instantaneously check whether online payment transactions are fraudulent. Fraugster’s self-learning algorithm allows online sellers to approve transactions faster and more reliably, which reduces costs and boosts profits by limiting the ... Read the full article
Munich Re open to offer from anchor investor: CEO Wenning
23rd April 2018
At a time when reinsurers have been increasingly under pressure, it seems having major financial backers is becoming increasingly attractive and now reinsurance giant Munich Re is said to be open to having an anchor investor on-board. In an interview with Reuters, Munich Re CEO Joachim Wenning said that he would ... Read the full article
Metabiota unveils Pathogen Sentiment Index & agreement with Munich Re, Marsh
20th April 2018
Epidemic risk modeller Metabiota has announced details of its Pathogen Sentiment Index, a tool that enables the estimation of public fear and behavioural change as a result of infectious disease outbreaks, and which is to be used to develop epidemic insurance solutions through an exclusive agreement with reinsurer Munich Re and ... Read the full article
Munich Re Digital Partners appoints Angela Homm as Global CFO
17th April 2018
Munich Re Digital Partners, a subsidiary of global reinsurer Munich Re that invests in InsurTech start-ups, has appointed Angela Homm as Global Chief Financial Officer (CFO), and as Senior Director of Risk & Finance for its U.S team, effective April 23rd, 2018. As CFO, Homm will be responsible for Digital Partners' ... Read the full article
Munich Re hires Rebecca Rycroft as new CFO for Canada Life & Health
9th April 2018
Global reinsurance firm Munich Re has hired Rebecca Rycroft from actuarial consultancy Oliver Wyman to become the new Chief Financial Officer (CFO) for its Canadian life and health business. Rebecca Rycroft has been appointed as Senior Vice President and Chief Financial Officer for Munich Re, Canada effective April 9th 2018. "Rebecca is ... Read the full article
Munich Re’s digitisation to “enhance core business & push back boundaries”: Joachim Wenning
22nd March 2018
As Munich Re invests in digital transformation, Chairman of Munich Re's Board of Management Joachim Wenning said in his letter to shareholders, the strategy is not to imitate business models of data and internet companies but to enhance core business and push back boundaries by adding digital elements. The reinsurance giant ... Read the full article
Munich Re joins African energy initiative to re/insure political risks
21st March 2018
Munich Re is launching a new clean energy initiative in conjunction with the African Trade Insurance Agency (ATI) and the European Investment Bank (EIB), which will offer coverage against a range of political risks in sub-Saharan Africa, and is expected to unlock US $1.4 billion of investment. The initiative, called the ... Read the full article
Re/insurers “almost obliged” to develop covers that better meet clients’ needs : Jeworrek, Munich Re
21st March 2018
Munich Re’s Chairman of the Reinsurance Committee, Torsten Jeworrek, placed the onus on insurers and reinsurers to adapt product offerings to better suit client needs after 2017's catastrophe levels highlighted the extent of the global protection gap (the gap between insured and economic losses post-event). In 2017 economic losses from natural ... Read the full article
Munich Re looks to reshuffle the value chain
19th March 2018
Global, Germany-based reinsurance giant Munich Re is looking to transform its business model in order to get closer to the client, essentially reshuffling the value chain with the help of technology and digitisation to reduce complexities and boost efficiency. As part of its recent annual 2017 recap and 2018 outlook, Munich ... Read the full article