Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
People Moves: Zurich’s Hart Moves to Munich Re Specialty; AXA XL Promotes Design Professional Team’s Kendall
Mar 1 2022 // Munich Re Specialty Insurance (MRSI) has named long-time Zurich North America executive Sabrina Hart as president of its excess and surplus lines business. Hart is charged with expanding E&S’s specialty product...
Munich Re Forecasts 14% Jump in 2022 Profit as It Reports Bounceback From Pandemic
Feb 23 2022 // German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters. Marked by devastating...
Natural Disasters Cost Insurers $120B in 2021. Munich Re Points to Climate Change Link.
Jan 10 2022 // Natural disasters across the globe caused economic losses of US$280 billion in 2021, of which roughly US$120 billion were insured, according to a report from Munich Re, which noted that U.S. natural catastrophes...
Munich Re Doubles Q3 Profit Despite Big Storm Losses in Europe, U.S.
Oct 20 2021 // German reinsurer Munich Re doubled its profit in the third quarter, despite big losses from storms in Europe and the United States, it said on Tuesday, but left its forecasts for the year unchanged. Profit rose to around...
Munich Re, Hannover Re Expect Rising Prices After Floods in Germany
Oct 18 2021 // German reinsurance companies Munich Re and Hannover Rueck said on Monday they expect rising prices for their business in Europe next year, citing mid-July floods in central Europe, inflation and the coronavirus...
Munich Re’s Venture Arm Raises $500M for Fund Focused on Insurtech, Cybersecurity
Oct 13 2021 // Munich Re Ventures, the venture capital arm of Munich Re Group, has closed its new $500 million investment fund, with plans to focus, in part, on insurtech and cybersecurity. The new financing arm, dubbed Munich Re Fund...
People Moves: Gallagher Re’s Bousfield to Lockton Re Bermuda; Atrium Names Munich Re’s Cusition as Marine U/W; MS Amlin Hires RSA’s Forsyth as Lead Class Hull U/W
Oct 8 2021 // This edition of International People Moves details appointments at reinsurance broker Lockton Re and two insurers: Atrium Underwriters and MS Amlin Underwriting. A summary of these new hires follows here. Lockton Re...
People Moves: Lockton Hires WTW’s Danyluk as Head Int’l Property, Wholesale; HSB Promotes Prentice in Cyber; Apollo’s Ker Becomes Castel’s Head of Performance
Sep 30 2021 // Lockton Names WTW’s Danyluk as Head Int’l Property in Wholesale P/C Lockton, the world’s largest privately owned independent insurance broker, has appointed Andrzej Danyluk as head of International...
HSB Canada Introduces Cyber Coverage for Small Businesses
Sep 22 2021 // HSB Canada, part of Munich Re, has introduced HSB Cyber Suite, a comprehensive collection of cyber insurance and services designed to protect small and medium-size businesses from cyber-attacks, data breaches, identity...
Writing Cyber Is Key to Survival, Munich Re Exec Says
Sep 14 2021 // Trumpeting a message that he conceded might be different from peers, Stefan Golling, a member of Munich Re Board of Management, said that Munich Re remains bullish on the cyber insurance and reinsurance markets. In fact,...
Munich Re Moves Ahead of Swiss Re as Reinsurer With Most GPW: AM Best
Sep 2 2021 // Munich Re replaced Swiss Re as the largest reinsurer in AM Best’s annual ranking of the Top 50 Global Reinsurance groups in 2020, marking a return to a position that it last held in 2017. Swiss Re held the top spot...
High Net Worth — with a Technological Twist; Munich Re’s Groves, John & Westrup Expands into Private Client Sector
Aug 16 2021 // Groves, John & Westrup Ltd. has been a coverholder for Munich Re’s Lloyd’s syndicate for decades, writing marine, pleasure boat and private yacht insurance. This year, the company branched out into the high...
Munich Re’s Q2 Profit Rises 91%, While COVID-19 Losses Outpace Expectations
Aug 10 2021 // German reinsurance group Munich Re said on Tuesday it would meet its 2021 profit goal as it raised its forecast for gross premiums and predicted higher pandemic-related losses than previously anticipated. Munich Re made...
Munich Re Reports Q2 Profit Increase of 90%
Jul 21 2021 // Munich Re’s net profit in the second quarter rose around 90% from a year earlier, beating expectations and giving it confidence of meeting its 2021 profit target. The German reinsurer said in an unscheduled...
HSB Adds Coverages for Smart Farm Technology, Equipment
May 26 2021 // HSB, part of Munich Re. has launched HSB Precision Ag insurance, a suite of coverages for evolving farm data risks, technology and state-of-the-art equipment. Designed for large commercial enterprises and smaller family...
People Moves: Chubb Appoints Execs in Construction, A&H; Hippo Adds to Legal & Compliance; Alleyne Named Chief Legal Officer at Munich Re US
Apr 16 2021 // Chubb has appointed Lyndsey Christofer as executive vice president, Construction Industry Practice Leader for its large account segment. In this capacity, she will oversee a team of construction underwriting and service...
Munich Re’s Transportation, Logistics Specialty Broker Roanoke Expands to Canada
Mar 18 2021 // Roanoke Insurance Group is expanding to Canada to provide insurance and surety bonds to companies involved in logistics, transportation and shipping. The new entity, Roanoke Insurance Group Canada, Inc., (RIG CA), is an...
Google to Offer Cyber Insurance From Allianz, Munich Re to Cloud Users
Mar 2 2021 // Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies...
Munich Re’s 2020 Profit Drops 55% on COVID-19-Related Reinsurance Claims of $4.1B
Feb 25 2021 // Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year. The reinsurer’s Q4 2020 profit dropped to €212...
Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions
Feb 23 2021 // A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European...
