Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re Confirms Profit Forecast with $2.34 Billion 2004 Net Earnings
Feb 16 2005 // Munich Re announced 2004 net earnings of 1.8 billion euros ($2.34 billion), confirming its earlier revised estimates of between $2.22 billion and $2.48 billion (See IJ Web site Jan.23). The move back to profitability...
A.M. Best Upgrades Rating for The Hartford Steam Boiler Inspection and Insurance Co., Subs
Feb 1 2005 // A.M. Best Co. has upgraded the financial strength rating to A++ (Superior) from A+ (Superior) of Connecticut-based The Hartford Steam Boiler Inspection and Insurance Company (HSB) and its three group rated...
Best Comments on Munich Re’s Revised Earnings
Jan 26 2005 // A.M. Best Co. has commented that the financial strength rating of A+ (Superior) (with a stable outlook) and the issuer credit rating of “aa” (with a negative outlook) of Muenchener Rueckversicherungs (Munich...
Munich Re 2004 Profit Forecast $2.22- $2.48 Billion Despite HVB Writedowns
Jan 24 2005 // In a brief announcement the Munich Re Group said its consolidated profit for the year 2004 would be between 1.7 and 1.9 billion euros ($2.22-$2.48 billion) despite special writedowns by the HVB Group. “The HVB Group...
Munich Re Analyzes “Megacities” Vulnerability
Jan 14 2005 // Munich Re presented its views at the UN’s World Conference on Disaster Reduction on the special problems faced by Megacities, defined as “conurbations with ten million or more inhabitants.” These large...
Munich Re Estimates Tsunami Claims Below $136 Million
Dec 29 2004 // Munich Re, the world’s biggest reinsurer, has issued a bulletin concerning possible losses from the tidal waves that struck many countries around the Indian Ocean on Dec. 26, which estimates the company’s...
Best Affirms American Re Ratings; Assigns ICR; Outlook Changed to Negative
Dec 28 2004 // A.M. Best Co. announced that it has affirmed the financial strength ratings of “A+” (Superior) of American Re Corporation Group’s member companies, which include American Re-Insurance Company, American...
A.M. Best Affirms HSB (UK) ‘A+’ Rating
Dec 23 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Excellent) of U.K. based HSB Engineering Insurance Limited (HSBEIL) with a stable outlook. Best said it “regards HSBEIL...
HSB Unveils Identity Recovery Coverage for Insurers Serving Home Owners, Small Business Market
Dec 15 2004 // The Hartford Steam Boiler Inspection and Insurance Company (HSB) is now offering to insurers identity recovery coverage that combines identity theft insurance with services that help victims restore their credit history...
Munich Re Posts $472 Million Q3 Profit, $1.94 Billion for Nine Months; Affirms Full Year Estimate (Almost)
Nov 9 2004 // Despite an estimated 550 million euros ($711 million) in hurricane related claims, Munich Re, the world’s largest reinsurer, seems to have weathered the storm(s). The company announced third quarter profits of 365...
HSB Unveils Portfolio EPL
Nov 2 2004 // The Hartford Steam Boiler Inspection and Insurance Company (HSB) is now offering Employment Practices Liability (EPL) coverage through selected insurance company partners serving small and medium-size businesses. The...
Munich Re Estimates $616 Million Hurricane Losses
Oct 1 2004 // Munich Re, the world’s largest reinsurer, issued a statement estimating that its losses from “an unusually close succession of windstorms in the Atlantic and Pacific” would be around 500 million euros...
Munich Re Launches Indian Service Company
Sep 27 2004 // Munich Re has established a new service company, Munich Re India Services Ltd., Mumbai, aimed at strengthening and intensifying “long-standing business relations – some dating back to 1950 – with Indian...
S&P Affirms American Re and Affiliates ‘A’ Ratings
Sep 10 2004 // Standard & Poor’s Ratings Services announced that it has affirmed its “A” counterparty credit and financial strength ratings on U.S.-based American Re-Insurance Co. and its subsidiaries American...
Munich Re Opens New Office Building
May 12 2004 // Germany’s Munich Re announced the opening of a new office complex, “Am Münchner Tor,” in its hometown on Tuesday, May 11, 2004 by Dr. Nikolaus von Bomhard, Chairman of the Board of Management. The...
American Re Issues Statement Reinforcing Commitment to U.S. Casualty Business
Apr 26 2004 // American Re-Insurance Company, Munich Re’s U.S. subsidiary, has issued a statement underscoring its commitment to its U.S. casualty business. “We are in this business to stay and we want to assure our clients...
HSB Introduces Packaged Equipment Breakdown Coverage for Insurers Serving Farm and Ranch Owners
Apr 14 2004 // Farms have changed, and so have the risks. The addition of computer-controlled technology to traditional farm equipment has significantly increased exposures, yet many farms lack insurance protection when equipment breaks...
Best Affirms Munich Re (Canada) ‘A+’ Rating; Lowers Temple
Apr 2 2004 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Munich Reinsurance Company of Canada (MROC) (Toronto, Ontario) with a stable outlook. Best noted that the rating...
Munich Re Posts First Loss in 97 Years-$533 Million
Mar 18 2004 // Munich Re announced that 2003 resulted in its first net loss since 1906, the year of the San Francisco earthquake. The world’s largest reinsurer lost 434 million euros ($533 million) last year, but said that the...
HSB Launches InstantQuote for Equipment Breakdown Insurance
Mar 1 2004 // The Hartford Steam Boiler Inspection and Insurance Company (HSB) announced the launch of HSB InstantQuote, an online tool for quoting and binding equipment breakdown coverage in as little as three minutes. HSB InstantQuote...
