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.
Favourable reinsurance market conditions likely to sustain into 2025, says Munich Re’s Wenning
10th August 2023
Joachim Wenning, Chairman of the Board of Management and CEO at Munich Re, has said that the global reinsurer expects current, favourable market conditions to persist beyond next year and into 2025. Wenning stated in the recently held Munich Re earnings call, that in Munich Re's view, "the favourable market environment ... Read the full article
Munich Re posts H1 profit of €2.4bn, “on track” to achieve annual target
10th August 2023
Munich Re generated a profit of €2.4bn in H1 of 2023, higher than half of its full year guidance of €4bn, as the firm remains "on track" to achieve its annual target. The firm explained that the higher result during H1 of 2022 was attributable to lower unwinding-of-discount effects and lower ... Read the full article
Overall & insured losses from nat cats in H1 2023 higher than 10-year average: Munich Re
28th July 2023
Reinsurance giant Munich Re has reported overall losses from natural disasters of $110 billion for the first half of 2023, with the insured loss from these events amounting to $43 billion. It is noteworthy that the first half of 2023 is a continuation of the recent run of years with high ... Read the full article
Berenberg pleased with Munich Re’s outlook and core reinsurance market
20th July 2023
Munich Re is currently enjoying one of the best periods in its recent history, with risk-reward remaining very attractive, Berenberg stated as it was reassured by the reinsurer’s management confidence on both the outlook for the business and implicitly for its core reinsurance market. According to Berenberg, Munich Re has suggested ... Read the full article
Beckmann joins Munich Re as CUO Casualty for Lloyd’s & Bermuda Markets and Global Clients
13th July 2023
Lucas Beckmann has joined global reinsurance giant Munich Re in a new position as Chief Underwriting Officer (CUO) Casualty for Lloyd's & Bermuda Markets and Global Clients. Beckmann has over fifteen years of experience working with Munich Re in various roles. He most recently served as the CUO for Munich Re Facultative ... Read the full article
Average ROE of reinsurers in Fitch peer group decreased to 1.2% in 2022
6th July 2023
A group of reinsurers in Fitch Ratings' universe saw their average return on equity (ROE) fall from 8.5% in 2021 to 1.2% in 2022 as mark-downs on investments, high inflation and increased losses from natural catastrophes drove a significant dip in profits. The global reinsurance companies in the peer group are ... Read the full article
Owais Ansari set to become CEO, Life & Health, MENA at Munich Re
4th July 2023
Global reinsurance giant Munich Re has announced that Owais Ansari has been appointed as Chief Executive Officer, Life & Health, Middle East and North Africa (MENA), with effect from September 1, 2023. According to the announcement, his appointment is subject to regulatory approval. In the role, Ansari will be based in Dubai, ... Read the full article
Re/insurance alone cannot absorb all risks from cyber incidents: Munich Re’s Kreuzer
29th June 2023
Collaboration among stakeholders in the risk and insurance industry to tackle evolving cyber risks is essential, a recent report from Federation of European Risk Management Associations (FERMA) has stated, with individuals like Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, highlighting that re/insurance cannot absorb the number ... Read the full article
Hard reinsurance market cycle to continue in 2024, says Munich Re’s Jurecka
16th June 2023
Christoph Jurecka, CFO of Munich Re, anticipates that the hard market cycle will persist into 2024, unless 2023 proves to be a very benign year for natural catastrophes. Jurecka recently spoke with analysts at Goldman Sachs, and noted that there is still a considerable supply-demand imbalance with capital not yet ready ... Read the full article
Munich Re to insure INTILION’s energy storage system
14th June 2023
German reinsurance giant Munich Re has signed a long-term collaboration agreement with INTILION to insure its large-scale energy storage system. The insurance product offered by Munich Re provides the company with the ability to insure against clients’ claims arising under the warranty and performance guarantee (Product and Performance Warranty Insurance). This agreement ... Read the full article
Munich Re America appoints Angela Homm as Chief Risk Officer
13th June 2023
The US brand of global reinsurance giant Munich Re (MRAS) has appointed Angela Homm to the role of Chief Risk Officer, effective June 12, 2023. In the role, she will report to Adrienne W. Mageras, President and CEO, MRAS and will also become a member of the MRAS Leadership Team. Prior to ... Read the full article
Munich Re backs raicoon’s solar performance guarantee
5th June 2023
Munich Re has backed climate-tech pioneer raicoon's "industry-first" 100% fault detection guarantee with zero false alarms for solar energy operations. According to raicoon, this "groundbreaking" collaboration with Munich Re will empower the acceleration of the energy transition, increase the efficiency and profitability of solar asset management, and optimise resource use. The alliance ... Read the full article
Lloyd’s becomes the 10th major player to mark its exit from NZIA
30th May 2023
Lloyd's announced its resignation as a member organisation from the Net Zero Insurance Alliance with immediate effect on Friday. This makes it the tenth major insurance and reinsurance player to offer its resignation since last week. Lloyd’s, the insurance and reinsurance market in London, mentioned in a statement that it will ... Read the full article
QBE and Sompo the latest re/insurers to quit NZIA
26th May 2023
QBE and Sompo Holidngs have both announced their resignations as a member organisation from the Net Zero Insurance Alliance. This news takes the total now exited from the NZIA to nine major insurance and reinsurance players. The QBE and Sompo Holdings exits come right after two other big firms, namely AXA ... Read the full article
Europe’s big four see “better-than-expected” financial performance in Q1: Fitch
25th May 2023
Three out of the four major European reinsurers reported better technical results in Q1 of 2023 despite a high natural catastrophe charge, suggest analysts at Fitch Ratings. Fitch explains that better pricing and portfolio adjustments made up part of the improvement, however, discounting effects under IFRS 17 also led to a ... Read the full article