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.
Protector estimates £50mn Grenfell Tower loss, reinsurers to pay bulk
7th July 2017
Protector Forsikring ASA of Norway, the insurer of the Grenfell Tower block in London’s Royal Borough of Kensington and Chelsea, has estimated that the tragic fire that occurred at the apartment block will cost an estimated £50 million (US$64.4mn), with the majority being assumed by the reinsurance industry. According to Protector's Q2 2017 ... Read the full article
Munich Re launches customised drone insurance cover
6th July 2017
Munich Re America, a division of reinsurance giant Munich Re, has launched a new commercial drone insurance product offering a customised liability solution for small to medium-sized clients of insurers. The new product comes in response to increased opportunities for drone use in the U.S. after Federal Aviation Agency (FAA) Rule ... Read the full article
Munich Re names two new Executive Vice Presidents
5th July 2017
Munich Re U.S. Life has announced Marc-André Giguère's promotion to Executive Vice President (EVP) of Reinsurance, and Micheal Taht as newly promoted EVP of Research Analytics and Underwriting. Prior to joining Munich Re in 2015, Giguère worked in the U.S. for 20 years with Ernst & Young and Towers Perrin. Michael DeKoning, President ... Read the full article
Munich Re names ex-Allianz Chairman Zimmerer to supervisory board
5th July 2017
Global reinsurance firm Munich Re has appointed Maximilian Zimmerer, previously the Chairman of the Allianz board, to the Supervisory Board of Munich Re with effect from 4th July 2017. Zimmerer succeeds Peter Gruss, who resigned his seat on the Supervisory Board as of 30th June 2017, having been a Board member ... Read the full article
Munich Re Specialty Group names Celine Ang Head of Asia
3rd July 2017
Munich Re Specialty Group, a division of reinsurance giant Munich Re, has appointed Celine Ang as Head of Asia, effective August 1st, 2017. Ang will be based in the firm's Singapore office, and will take on responsibility for Munich Re' syndicate offices throughout the region. She joins Munich Re Specialty Group from Euler Hermes, ... Read the full article
Reinsurance industry helps World Bank secure $500m pandemic facility backing
29th June 2017
The global reinsurance industry has collaborated with and assisted the World Bank's launch of specialist bonds to support the $500 million Pandemic Emergency Financing Facility (PEF), which is designed to rapidly disburse funds to eligible countries facing a major disease outbreak. In response to the high financial, social and economic loss driven ... Read the full article
Munich Re partners with Community Association Underwriters of America
28th June 2017
Reinsurance giant Munich Re is partnering through its U.S. Specialty Markets branch with the Community Association Underwriters of America (CAU), a managing general agency and division of Alliant Specialty Insurance Services. From July, Munich Re's US-affiliated carriers will insure CAU’s existing business and also offer its client base a number of ... Read the full article
Munich Re names Jinzenji CEO Japan, as branch expands to non-life
27th June 2017
Global reinsurance firm Munich Re's Japan operations officially become a composite branch of July 1st 2017, and the reinsurer is expanding its offerings from the branch to include non-life products, as well as life, while Brian Jinzenji has been named CEO. Jinzenji officially becomes Chief Executive Officer and Representative of the ... Read the full article
Munich Re backed carrier ONE acquired by InsurTech wefox
26th June 2017
A digital insurance carrier backed and reinsured by global player Munich Re is to be integrated into InsurTech start-up wefox's platform as an innovation partner from September 2017, as wefox acquires ONE. Wefox said that it is integrating digital insurer ONE, which was launched in 2016 by former Zurich Insurance ... Read the full article
Munich Re sets up protected cell company in Malta, report
19th June 2017
German and global reinsurance player Munich Re has registered a protected cell insurance vehicle on the island domicile of Malta. The Times of Malta first reported that the reinsurer registered a protected cell company a few weeks ago, which would be able to underwrite re/insurance business, and that this could provide ... Read the full article
Munich Re leads Grenfell Tower reinsurance, fire loss seen at £25m+
15th June 2017
The insurer of the Grenfell Tower apartment building in London's Royal Borough of Kensington and Chelsea, that was the site of a tragic fire this week, has said that the insurance loss is anticipated at over £25 million ($31.8m) and said that Munich Re is its lead provider of reinsurance. The ... Read the full article
Cyber growth to drive increased profitability at Munich Re, says J.P. Morgan
15th June 2017
J.P. Morgan has maintained that reinsurance giant Munich Re will beat its conservative full-year 2017 net profit target and also increased its full-year 2018 and 2019 profit estimates for the reinsurer, driven by an expectation of continued cyber growth. The German domiciled reinsurer announced in March a 2017 profit guidance of ... Read the full article
Reinsurers express regret at Trump’s exit of the Paris Climate Agreement
2nd June 2017
Reinsurance giants Swiss Re and Munich Re have added their voices to the growing international condemnation of Trump’s decision to exit the Paris Climate Agreement. The Swiss reinsurer - which has been researching climate change and its effects for the past 30 years - said; "we can say: it is a ... Read the full article
Ergo sees greater annual profit contribution to Munich Re
2nd June 2017
Ergo Group, the primary insurer of reinsurance giant Munich Re, has revealed plans to generate increasing profit for the reinsurer moving forward after the successful restructuring of its operations. After launching a full-scale restructuring project in 2016 the Ergo Group is now structured to operate more efficiently, with the firm citing ... Read the full article
Munich Re buys another wind farm, to further diversify investments
1st June 2017
Global reinsurance firm Munich Re has signed an agreement with Eolus, the Swedish wind power developer, which will see all the shares in a wind farm development being acquired by the reinsurers MEAG asset management unit. Investment returns remain vital to reinsurers, perhaps more so in the low yield environment, but ... Read the full article
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