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 appoints Jack Faure as Head of Parametric NatCat Solutions
17th June 2024
Global reinsurer Munich Re has recently appointed Jack Faure as the Head of Parametric NatCat Solutions. In this role, Faure will manage the company’s global transactional team. He will lead project teams to drive and support product development while also fostering collaboration with external partners such as data providers, calculation agents, ... Read the full article
Global trends & promising outlook for MGA & MGU revenues in 2023: Insuramore
14th June 2024
Managing General Agents (MGAs), Managing General Underwriters (MGUs), and cover-holder groups have amassed approximately USD 23.9 billion in revenues worldwide in 2023, according to a recent report by industry analysis firm Insuramore. The bulk of this revenue, ranging between 70% and 75%, stemmed from direct commercial P&C insurance, while the remaining ... Read the full article
Automated EHR Summarizer, an effective & efficient tool for life insurance underwriting: Munich Re
31st May 2024
In a recent interview with Reinsurance News, June Quah, Vice President, Integrated Analytics, Munich Re North America Life, discussed the reinsurance giant's newest digital solution, Automated EHR Summarizer which is set to ensure efficient and accurate use of Electronic Health Record (EHR) data for automated and programmatic life insurance underwriting. Read the full article
“Highly active” 2024 hurricane season on the horizon, says Munich Re
20th May 2024
Global reinsurance giant Munich Re has indicated that the 2024 hurricane season in the North Atlantic is expected to be highly active, as current forecasts are suggesting that the number of tropical cyclones could be "significantly higher than the long-term average." In a recent report released by the firm, it explains ... Read the full article
HSB Canada to offer employment practices liability coverage to small businesses
17th May 2024
HSB Canada, a multi-line specialty insurer and part of the global reinsurance giant Munich Re, has introduced a new coverage, Employment Practices Liability Insurance with the aim to help small businesses respond to claims arising from employment-related practices. The firm has cited external and internal reports which show that 80% of ... Read the full article
Munich Re Specialty NA deploys Kalepa’s underwriting platform to enhance risk analysis
16th May 2024
Munich Re Specialty - North America, part of the Munich Re Group insurance operations, to enhance risk analysis, critical submission management capabilities, and document ingestion with Kalepa’s underwriting platform, Copilot. To support its rapid expansion in the US, the reinsurer chose to deploy the underwriting platform as it was looking for ... Read the full article
Surging cyber threats necessitate need for robust protection: Munich Re
15th May 2024
In its recent survey, Global reinsurer Munich Re highlights the evolving cyber threats of companies and the persisting protection gap, necessitating the need for sufficient cyber insurance solutions to mitigate risks effectively. With a surge in cyber attacks globally, particularly ransomware and data theft, managers have rising concerns regarding their organisations' ... Read the full article
Munich Re focused on maintaining improved T&Cs at mid-year renewals: CFO Jurecka
8th May 2024
Christoph Jurecka, Chief Financial Officer (CFO) of Munich Re, stressed this morning that the global reinsurer will continue to be disciplined at the upcoming mid-year reinsurance renewals, and will focus on maintaining the improved terms and conditions (T&Cs) achieved last year. Early this morning, Munich Re released an impressive set ... Read the full article
Munich Re’s insurance revenue rises to €15.1bn in Q1’24
8th May 2024
Global reinsurer Munich Re has today announced a rise in insurance revenue from contracts issued to €15.1 billion for the first quarter of 2024, driven by organic growth in its reinsurance business and also at ERGO International. Last month, Munich Re pre-announced a net profit of €2.1 billion for Q1 ... Read the full article
Munich Re launches generative AI REALYTIX ZERO Co-Pilot
3rd May 2024
Munich Re's REALYTIX team has launched a generative AI co-pilot facilitating insurance solution development of clients. With REALYTIX ZERO, Munich Re has been providing a cloud-based underwriting platform with based on its underwriting expertise since 2018, helping primary insurers, MGAs and brokers to digitalise and automate the underwriting of their products. Built ... Read the full article
Favourable P&C reinsurance environment to persist at mid-year renewals: Munich Re CEO
25th April 2024
Joachim Wenning, Chief Executive Officer (CEO) of Munich Re, is confident that the favourable market environment for property and casualty (P&C) reinsurers will continue throughout 2024, after a positive January 1st reinsurance renewal period. Addressing shareholders at Munich Re's Annual General Meeting (AGM), CEO and Chair of the Board, Wenning, described ... Read the full article
Munich Re Life US & Clareto unveil new digital solution for life insurance underwriting
23rd April 2024
Munich Re Life US, part of Munich Re Group, and Clareto, a Munich Re company, have unveiled a new digital solution called Automated EHR Summarizer, which is set to ensure efficient and accurate use of Electronic Health Record (EHR) data for automated and programmatic life insurance underwriting. According to the announcement, ... Read the full article
Munich Re posts quarterly profit of €2.1bn as P&C reinsurance CoR strengthens
23rd April 2024
Global reinsurer Munich Re has announced a preliminary net profit of €2.1 billion for the first quarter of 2024, as the firm highlights a better than expected operational performance across all lines of business. Munich Re will release its full Q1 2024 results on May 8th, but has today provided some ... Read the full article
Munich Re bolsters P&C underwriting teams in APAC MEA with revised set-up
18th April 2024
Munich Re is to strengthen its P&C underwriting teams in Asia Pacific, Middle East & Africa (APAC MEA) with a revised set-up, which includes two regional divisions and personnel changes at the senior executive level. As Chief Executive, Hitesh Kotak will lead Munich Re's P&C business in Japan, India, Korea and ... Read the full article
The World Bank issues $420m parametric cat bond for the Government of Mexico
17th April 2024
The World Bank has issued $420 million in catastrophe bonds for renewed disaster risk protection for the Government of Mexico. The cat bond, which will finance insurance coverage against named storm events along the Atlantic coast of Mexico and earthquake events, will be issued by the International Bank for Reconstruction ... Read the full article
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