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Reinsurance News

Munich Re

Munich Re develops new cyber reinsurance solution for SMEs

26th September 2018

Munich Reinsurance America, Inc. (Munich Re) has developed a new reinsurance solution for U.S property and casualty (P&C) insurance carriers seeking to provide cyber coverage to their small and medium-sized enterprise (SME) clients. The new cyber solution will provide reinsurance capacity for limits up to $15 million, as well as technical ... Read the full article

Munich Re’s HSB joins LoRa Alliance in push for IoT standardisation

20th September 2018

The Hartford Steam Boiler Inspection and Insurance Company, a subsidiary of reinsurance giant Munich Re, is to become a contributor member of the LoRa Alliance. The LoRa Alliance is a non-profit association dedicated to the standardisation of low power wide area networks (LPWAN); a technology that enables long-range, wireless connectivity between ... Read the full article

Munich Re partnership lays down Hyperloop safety & certification guidelines

18th September 2018

German reinsurance giant Munich Re has partnered with certification and inspection company TÜV SÜD and Hyperloop Transportation Technologies on the first set of Hyperloop core safety requirements and certification guidelines as well as the first insurance framework for HyperloopTT worldwide systems. Hyerpool TT is an American research company aiming to develop ... Read the full article

Re/insurers risk irrelevancy by ignoring cyber, say Munich Re heads

9th September 2018

The re/insurance industry is at risk of becoming irrelevant if it avoids the challenge of tackling cyber risk, which also remains an area with huge growth potential, according to senior executives at German reinsurance giant Munich Re. Speaking at a media conference on the first day of the Rendezvous event in Monte ... Read the full article

Munich Re moves top in A.M. Best’s 2018 reinsurance rankings

5th September 2018

Munich Re has recovered the No. 1 position from Swiss Re in A.M. Best’s annual ranking of the Top 50 Global Reinsurance Groups, which also saw Warren Buffett’s Berkshire Hathaway climb two places to No. 3, pushing Hannover Rück SE and SCOR SE to the four and five spots respectively. Read the full article

Munich Re acquires tech firm relayr in IoT push

4th September 2018

Global reinsurance giant Munich Re has announced that via its subsidiary Hartford Steam Boiler (HSB), it has acquired technology company relayr, of which it will hold 100% of the shares upon completion. relayr is valued at $300 million, and offers industry participants end-to-end solutions in the area of the Internet of ... Read the full article

Munich Re Specialty hires two to lead Americas underwriting team

30th August 2018

Munich Re Specialty Group (MRSG), a division of reinsurance giant Munich Re, has appointed Steven Weiss and Ben Tucker to lead its expanding underwriting team in the Americas. Weiss has been named Senior Vice President (SVP)/Chief Underwriting Officer (CUO) of Ocean and Inland Marine Insurance. He brings 28 years’ experience as ... Read the full article

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

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