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.
H1 global insured nat cat losses 68% higher than ten-year average: Munich Re
31st July 2024
A new report from Munich Re has revealed that global insured losses from natural disasters in H1 of 2024 stood at $62 billion, 68% higher than the ten-year average of $37 billion and slightly up on last year. The reinsurer's report additionally observed that global losses in H1 of 2024 were ... Read the full article
S&P upgrades Munich Re’s ratings on improved profitability & earnings diversification
26th July 2024
S&P Global Ratings has raised to 'AA' from 'AA-' its long-term issuer credit and insurer financial strength ratings on the entities within the Munich Re group, citing significant improvement in overall profitability and earnings diversification in recent years. "Our base case indicates that Munich Re's strong and well-diversified earnings will remain ... Read the full article
Munich Re backs kWh Analytics’ wind proxy hedge product
24th July 2024
Global reinsurer Munich Re has been named as the capacity provider for a wind proxy hedge risk transfer product structured using a solution from kWh Analytics, for a 59MW, 14-turbine wind project in Maine. This innovative product was developed by a Greenbacker Capital Management-affiliated investment vehicle with expertise in sustainable infrastructure ... Read the full article
AXA tops list of largest European insurers ranked by GPW
9th July 2024
When ranked by gross premiums written (GPW) in 2022, global insurer AXA tops the list of the largest European insurance companies with US$106.1 billion. AXA also recorded $42.3 billion in capital & surplus from the same year. Based on data from ratings agency AM Best, our directory of ... Read the full article
Munich Re’s Risk Management Partners & CGI to help insurers reduce claims through climate risk mitigation
3rd July 2024
Munich Re's Risk Management Partners is teaming with CGI, the business and IT consulting services firm, in a move that is set to help insurers reduce claims, increase profits, and drive long-term value through climate risk mitigation. This partnership between the two firms will combine Munich Re's Location Risk Intelligence Platform ... Read the full article
Cyber warfare is not insurable: Munich Re’s Kreuzer
27th June 2024
In an interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager for Cyber Risks at Munich Re, emphasised that cyber warfare exceeds the company's risk appetite, nonetheless, the firm is actively collaborating with governments to exchange ideas around solutions for potential catastrophic cyber war scenarios. Kreuzer noted, “With the current wars ... Read the full article
FloodFlash expands coverage to all mainland US locations
24th June 2024
FloodFlash, the parametric flood insurance provider with sensor technology, has expanded its coverage to all mainland US locations. The company is known for offering flood insurance that exceeds the National Flood Insurance Programme (NFIP) in areas where private markets cannot provide quotes, especially in sectors like real estate, sports and entertainment, ... Read the full article
A young cyber market has matured, but enhancing preparedness and resilience is key: Kreuzer, Munich Re
20th June 2024
In a recent interview with Reinsurance News, Martin Kreuzer, Senior Risk Manager Cyber Risks at Munich Re, discussed how the firm stays ahead of the evolving cyber threat landscape and how companies can enhance their preparedness against these threats. Kreuzer offers his perspective on the current state of the cyber re/insurance ... Read the full article
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
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