Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
S&P Raises Munich Re Africa Ratings
Nov 21 2008 // Standard & Poor’s Ratings Services has raised its long-term counterparty credit and insurer financial strength ratings on South Africa-based reinsurer Munich Reinsurance Co. of Africa Ltd. to ‘A’...
Ratings on Munich Re ‘Unaffected’ by Q3 Earnings Decline Says S&P
Nov 10 2008 // Standard & Poor’s Ratings Services has said that its ratings and outlook on Germany’s global reinsurer Munich Reinsurance Co. (current ‘AA-‘ Stable outlook) and related core entities “are...
Munich Re Q3 Profits Down 99% to $15.4 Million; $1.8 Billion for 9 Months
Nov 7 2008 // Munich Re’s third quarter profits fell by 99 percent to €12 million ($15.4 million) compared to the €1.216 billion ($1.555 billion) it recorded in the third quarter of 2007. The Group’s net...
Reinsurers Expect Financial Storm Will Cause Premium Increases
Oct 28 2008 // The world’s reinsurers expect the intensifying financial market storm will allow them to push through higher prices for the risk cover they offer insurance companies. The world’s No. 2 and No. 4 reinsurers,...
Munich Re Chairman Affirms Group’s Financial Strength
Oct 22 2008 // Commenting on the latest developments in the world’s financial markets, Munich Re’s Board of Management Chairman, Dr. Nikolaus von Bomhard, stated: “We welcome the measures adopted by the European states...
Munich Re CEO Confident of Group’s Financial Strength
Oct 8 2008 // Dr. Nikolaus von Bomhard, CEO of Munich Re, has issued a muscular statement, detailing the Group’s strengths in the face of the ongoing global financial turmoil. “We will emerge stronger from the crisis,”...
Best Affirms Munich Re’s ‘A+’ Ratings
Sep 26 2008 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed the...
Rendezvous Roundup: Guy Carpenter; Aon Global Re; Munich Re
Sep 8 2008 // The Annual Reinsurance Rendezvous in Monte Carlo convened this weekend amid concerns over the ongoing credit crisis, the softening of the market and the onslaught of storms in the Caribbean. The current climate for the...
Munich Re Posts $2.1 Billion First Half Profit Despite Credit Crunch
Aug 8 2008 // The Munich Re Group recorded a profit of €1.4 billion ($2.123 billion) for the first half of 2006, a decline from the €2.1 billion ($3.18 billion) recorded in the same peiod of 2007. However, given the ongoing...
S&P: Munich Re Ratings ‘Unaffected’ by Reduced Earning Forecast
Aug 8 2008 // Following the release of Munich Re’s six-month earnings report (See above), Standard & Poor’s Ratings Services said that its ‘AA-‘ long-term counterparty credit and insurer financial strength...
Munich Re CFO Sees More Writedowns in Third Quarter
Aug 4 2008 // Munich Re expects more writedowns on its equity holdings in the third quarter but took account of likely losses in lowering its profit forecast for 2008 last week, its chief financial officer told Reuters. The...
Munich Re, Hannover Re Warn on Lower Earnings
Jul 25 2008 // German reinsurer Munich Re issued a profit warning on Friday, saying turmoil in global markets would hurt its second-quarter earnings and result in a lower than forecast profit for the year as a whole. “Against the...
2008 Catastrophe Losses Already Exceed 2007; On Track to Pass 2006
Jul 9 2008 // A large number of exteme weather events pummeled the United States in the first half of the year, and worldwide 2008 may go down in history as a year with one of the highest number of natural catastrophe victims, according...
Munich Re of Africa Reports Premium, Profit Growth
Jul 8 2008 // Munich Reinsurance Co. of Africa – the largest reinsurer in Sub-Saharan Africa – posted positive underwriting results for 2007. MRoA announced a 25.4 percent increase in gross premium income to R3, 2billion,...
HSB InSight Addresses Inadequate Business Property Valuations
Jun 11 2008 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is now offering HSB InSight, a new insurance-to-value (ITV) service designed to help insurers address inadequate valuations for business personal property and...
HSB Offers Data Compromise Coverage for Small to Mid-Size Firms
Jun 4 2008 // The Hartford Steam Boiler Inspection and Insurance Co. has a new data compromise insurance coverage that helps businesses respond to data breaches by covering the cost of client notifications and supplying services such as...
Ratings Recap: TT Club, Heddington, Flagstone Re, Grupo Nacional, Seguros Catalana, ACE Limited, HSB Engin
Jun 3 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of Bermuda-based Through Transport Mutual Insurance Association Limited (TTB)...
Munich Re, Aon Securitize Japanese Earthquake Risks
May 16 2008 // Munich Re, working with Aon, has arranged a securitization for Japanese insurer Zenkyoren, the National Mutual Insurance Federation of Agricultural Cooperatives, through Muteki Ltd., an exempted company in the Cayman...
Munich Re Q1 Profit Down 19% to $1.2 Billion; Maintains 2008 Profit Targets
May 8 2008 // The Munich Re Group recorded a profit of €785 million ($1.2 billion) for the first quarter of 2008, down 19 percent from the €974 million ($1.495 billion) in the same period of 2007. The Group’s Operating result,...
Munich Re 2007 Profit Rises 11.9% to $5.835 Billion
Feb 25 2008 // The Munich Re Group announced consolidated profits for 2007 of €3.937 billion ($5.836 billion), surpassing its increased profit guidance of €3.5 to €3.8 billion ($5.18 to $5.63 billion) announced in August. The...
