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 partners with GIC consortium on catastrophe damage analytics
25th June 2019
Munich Re has announced a new partnership with re/insurance industry consortium the Geospatial Intelligence Center (GIC) to provide its members with access to automated damage classification analytics following major catastrophe events. The GIC provides its members with access to imagery and data that enhance underwriting assessments, expedite claims, and improve fraud ... Read the full article
Munich Re backs French satellite imagery home insurer, Luko
18th June 2019
Global reinsurance giant Munich Re has partnered with French InsurTech Luko on the launch of its artificial intelligence (AI) driven satellite imagery home insurance. Luko describes itself as France's first neo insurance, and since the AI powered InsurTech launched roughly one year ago, it's already attracted 10,000 customers in France and, ... Read the full article
Munich Re CEO calls for higher price on carbon emissions
10th June 2019
Joachim Wenning, Chief Executive Officer (CEO) at reinsurer Munich Re, has urged European policymakers to increase the cost of emitting carbon, according to reports from the Financial Times. Wenning believes that such a move would create financial incentives to accelerate the switch from fossil fuels to renewables, thereby helping to limit ... Read the full article
Munich Re’s HSB partners with CNA on IoT Technology solutions
6th June 2019
The Hartford Steam Boiler Inspection and Insurance Company (HSB), which is part of reinsurance giant Munich Re, has collaborated with U.S. commercial property and casualty (P&C) insurer CNA on IoT Technology solutions. Under the new partnership, HSB's IoT Technology solutions will be offered to CNA's small and mid-size commercial policyholders in ... Read the full article
Munich Re views cyber as an opportunity for “sustainable new business”: Jurgen Reinhart
30th May 2019
Munich Re wants to help the re/insurance industry approach the cyber challenge as an opportunity for “sustainable new business,” rather than as an insurmountable obstacle to be overcome. This is according to Jurgen Reinhart, Munich Re’s Chief Underwriter for Cyber, who told Reinsurance News that the company was “ready to accept ... Read the full article
Munich Re enters global telematics partnership with The Floow
20th May 2019
Munich Re has entered into a new global partnership with The Floow, a provider of telematics solutions and a data refinery for re/insurers and manufacturers in the motor industry. Under the arrangement, The Floow’s portfolio of solutions and capabilities can be provided to insurance clients around the world, while also strengthening ... Read the full article
Munich Re member firm HSB announces cyber cover for farmers
17th May 2019
Munich Re member firm The Hartford Steam Boiler has announced a new cyber solution designed to help protect farmers and farm technology from hackers, malware and other cyber attacks. HSB Farm Cyber Insurance protects farmers against cyber attacks involving computers and electronic devices located on the farm premises, including the farm ... Read the full article
Munich Re Canada promotes Claus-Ulrich Kroll to President, CEO
16th May 2019
The Boards of Directors of Munich Re Canada and Temple Insurance Company have announced the appointment of Claus-Ulrich Kroll as President and Chief Executive Officer of both organisations. Kroll steps into the role with over 17 years’ re/insurance experience, having joined Munich Re in 2008. He first served in the company’s Corporate ... Read the full article
Munich Re partners with Curv on digital asset insurance
10th May 2019
Munich Re has announced a new partnership with Curv, a cryptography firm for the digital economy, to provide insurance protection of up to $50m for digital assets in Curv's Institutional Digital Asset Wallet Service. The arrangement will provide Curv with the financial capability to pay for losses of crypto assets, with ... Read the full article
Canopius’ Linus Phoon joins Munich Re as CEO for Singapore & Southeast Asia
9th May 2019
Munich Re has announced the appointment of Linus Phoon from Canopius as Chief Executive Officer (CEO) for Singapore & Southeast Asia, effective May 2nd, 2019. Phoon joins the reinsurance giant from Canopius, where he held the position as CEO Reinsurance Asia, since 2008. In his new role he will be based in ... Read the full article
Higher losses hit Munich Re’s Q1 2019 performance
8th May 2019
Global reinsurance giant Munich Re has maintained its full-year 2019 profit target of around €2.5 billion, despite recording a decline in first-quarter net income as a result of higher basic losses and greater expenditure for claims from previous years. Munich Re's Q1 2019 income totalled €633 million, compared with €827 million ... Read the full article
Munich Re is becoming “digital, leaner, and more profitable”: Joachim Wenning
6th May 2019
Munich Re is driving digital transformation and reducing complexity as part of a strategy to meet its new medium-term profit target of €2.8 billion for 2020, according to its Chief Executive Officer (CEO), Joachim Wenning. “Munich Re is becoming more digital, leaner, and more profitable,” Wenning said in a letter to ... Read the full article
Nikolaus von Bomhard elected Chair of Munich Re’s Supervisory Board
1st May 2019
Global reinsurance giant Munich Re has announced that both Nikolaus von Bomhard and Karl-Heinz Streibich have been elected to the firm's supervisory Board for the first time, as Bernd Pischetsrieder steps down after 17 years on the Supervisory Board, six of which he spent as Chairman. Nikolaus von Bomhard takes over as Chair ... Read the full article
Munich Re to deploy high-res imagery, AI for faster hurricane claim payments
30th April 2019
New methods currently being explored by global reinsurance giant Munich Re could see hurricane victims receive claim payments on their damaged properties in the time it takes them to return to their homes, according to reports from German newspaper Handelsblatt. Artificial Intelligence (AI) will play a key role in enabling this rapid ... Read the full article
Munich Re Syndicate eyes Asia expansion with coverholder partnership
18th April 2019
Munich Re Syndicate Singapore, the Asia-Pacific arm of Munich Re's Lloyd’s syndicate, has announced a partnership with Singapore-based coverholder Nectar Specialty Risk (Nectar), a move that strengthens its ties in the region. Nectar offers professional lines products via a Nectar Pro, a Financial Lines business unit focused on emerging Asian markets ... Read the full article
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