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 expects to see considerably higher reinsurance rates in Europe
18th October 2021
Global reinsurer Munich Re is anticipating continued reinsurance market hardening in Europe at the January 1st, 2022 renewals, while major losses and inflation trends suggest more pricing discipline. "Rising prices for various assets and the latest major losses make considerably higher reinsurance rates in Europe likely," said Doris Höpke, Member of ... Read the full article
Abu Dhabi’s ADQ acquires remaining 20% of Munich Re’s Daman
14th October 2021
Abu Dhabi-based ADQ, one of the region’s largest holding companies, has entered into an agreement to acquire the remaining 20% equity stake of The National Health Insurance Company – Daman – PJSC, from Munich Re. As a partner to ADQ, Munich Re will continue in its capacity as the company's reinsurer. Since ... Read the full article
Munich Re Ventures announces new $500mn startup investment fund
12th October 2021
The venture capital arm of Munich Re Group has closed a new $500 million fund established to invest in early/growth stage companies across five strategic sectors: insurance and climate technology, cybersecurity and privacy, commercial and industrial equipment tech, and future of transportation. Munich Re Ventures now has over $1 billion in ... Read the full article
Swiss Re and Munich Re rule out backing for Australian coal mutual
8th October 2021
Swiss Re and Munich Re have ruled out support for a controversial mutual fund proposed for the Australian coal industry due to their climate and coal policies would rule out their involvement in the scheme. The coal industry mutual fund has been touted as a potential solution to the insurance challenges ... Read the full article
Munich Re’s Digital Partners names Courtney Hill President, North America
5th October 2021
Munich Re-owned insurtech Digital Partners has announced the appointment of Courtney Hill as President, North America. Hill will report to Mike Kerner, the Chief Executive Officer of Munich Re Specialty Insurance. Prior to joining Digital Partners in 2018 she worked for three other large insurance carriers in various capacities, including field underwriter, ... Read the full article
Munich Re revises insurance underwriting terms
5th October 2021
According to the Times of India, Munich Re has revised its terms for supporting the reinsurance programs of insurance companies. The publication stated that Munich Re has also proposed to raise its rates by as much as 50%. The increase wouldn’t het fully reflected in term insurance premium as only a ... Read the full article
Storebrand adopts Munich Re’s ALLFINANZ NOVA
30th September 2021
Munich Re Automation Solutions’s platform ALLFINANZ NOVA has been selected to automate Storebrand Livsforsikring AS (Storebrand)’s life insurance underwriting process. Storebrand has also implemented the Underwriter Workbench and Insight Data Analytics services from Munich Re, analysing the questions that are fed through NOVA to identify ways to increase the straight-through-processing rate. Storebrand ... Read the full article
Munich Re’s HSB launches cyber coverage in Canada
24th September 2021
HSB Canada, part of Munich Re, has introduced a new collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity theft, and cyber extortion. HSB Cyber Suite is a cyber reinsurance solution for property-casualty insurers, including underwriting, marketing support, 24/7 claim service, and ... Read the full article
Munich Re and EDF Renewables take stakes in Cali energy projects
21st September 2021
EDF Renewables North America (EDFR) and MEAG, acting in its capacity as Munich Re’s global asset manager, have announced a strategic investment that will see a subsidiary of Munich Re acquire a 50% stake in two renewable energy projects in California. The projects are located adjacent to one another in Riverside ... Read the full article
Munich Re backs energy storage systems provider ESS
17th September 2021
ESS, a manufacturer of low-cost and long-duration energy storage systems, has secured an investment from reinsurance giant Munich Re, allowing for expanded coverage of its Energy Center. The policy provides a warranty backstop for ESS’s proprietary flow battery technology and electrolyte management system, supporting the system performance guarantee regardless of project ... Read the full article
We have to come back to doing the job of the underwriter: Munich Re’s Golling
14th September 2021
The focus on underwriting and discipline of traditional reinsurance players is what drives rates, not so much alternative capital or secondary perils, according to Stefan Golling, Member of the Board of Management at Munich Re. Yesterday, Munich Re hosted its annual insurance-linked securities (ILS) Roundtable as part of the 2021 rendez-vous ... Read the full article
Munich Re’s HSB adds Mathew Prentice as Cyber Product Lead
8th September 2021
Munich Re-owned specialist engineering and technology insurer HSB has added Mathew Prentice to support its computer and cyber product range offering. Prentice will be responsible for the development and implementation of HSB’s underwriting strategy for the computer and cyber account in the UK and Ireland. Based in Birmingham and reporting to Andy ... Read the full article
Reinsurance market environment is positive, but pricing must stay in place: Munich Re’s Jeworrek
7th September 2021
Overall, the re/insurance market environment is "very positive", but in order for the industry to be able to cover rising losses from natural catastrophes, it's "absolutely necessary that we keep this price level in place," according to Dr. Torsten Jeworrek, Munich Re's Chief Executive Officer (CEO) of Reinsurance. Global reinsurer Munich ... Read the full article
Munich Re continues to target cyber as top growth area
7th September 2021
Munich Re continues to see “favourable” prospects in the reinsurance market, with cyber, data analytics and artificial intelligence having been identified as the most important growth areas for the company. Discussing the trend of digitalisation within the industry, Board member Torsten Jeworrek asserted that traditional insurance will be “radically changed” by ... Read the full article
Munich Re launches second green bond to support climate strategy
2nd September 2021
Reinsurer Munich Re has launched its second green subordinated bond after a successful issuance in 2020, designed to reinforce its capital base with a focus on emerging growth opportunities in reinsurance markets. The volume of this issue is €1 billion (USD 1.2 billion) and the bond has a coupon of 1% ... Read the full article
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