Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re Estimates Kyrill Losses at $775 Million
Jan 29 2007 // Based on current estimates, Munich Re expects pretax losses from Windstorm Kyrill to be around €600 million ($775 million). The estimates include claims relating to the Group’s primary insurance subsidiary...
Munich Re Warns Insurers Against Nat Cat ‘Complacency’
Dec 29 2006 // While recognizing that economic losses from natural catastrophes were considerably lower in 2006 than in 2005, Munich Re warned the industry against becoming too complacent. In a bulletin on the reinsurer’s web site...
Munich Re Places $190 Million Calif. Quake Cat Bond for Zurich
Dec 22 2006 // Munich Re announced that it has transferred earthquake risks in California to the capital markets for subsidiaries of the Zurich Financial Services Group in cooperation with Aon Capital Markets, providing coverage through...
Munich Re Tells UNEP Conference $1 Trillion Loss Year Possible
Nov 15 2006 // Dr. Thomas Loster, a geographer who advises the Munich Re Foundation, told those attending the current United Nations Environment Program (UNEP) Conference in Nairobi that, “Most insurance and re-insurance companies...
Business Moves
Sep 25 2006 // Alliant, Jardine Lloyd Thompson Jardine Lloyd Thompson Group PLC sold its U.S.-based property and casualty insurance and employee benefits businesses to California-based Alliant Insurance Services Inc. JLT said the...
Business Moves
Sep 25 2006 // Progressive, Mass. Commercial Auto Massachusetts is about to get a new auto carrier — for commercial, not personal, lines. Progressive Insurance is awaiting approval of rate and form filings from the Massachusetts...
Munich Re Warns on Piracy Threat
Sep 25 2006 // Modern pirates may no longer favor black beards, eye patches and rum, but they nonetheless remain a threat to shipping. Munich Re has duly recognized the problem in a newly issued brochure on the hazard of piracy at sea,...
American Re Now Known as ‘Munich Re America’
Sep 6 2006 // Munich Reinsurance America Inc. officially changed its name from American Re-Insurance Company effective Sept. 5, 2006. The name of the holding company, American Re Corporation, has changed to “Munich Re America...
Munich Re Posts 143% Gain in 1st Half Profits to $3.47 Billion
Aug 3 2006 // Germany’s Munich Re may no longer be the world’s biggest reinsurer, but it can still make a great deal of money, posting a profit of €2.129 billion ($3.47 billion) for the first six months of the year....
American Re to Become Munich Re America Starting in Sept.
Aug 3 2006 // American Re-Insurance Company out of Princeton, N.J. announced that in September 2006 it will change its name to Munich Reinsurance America, Inc. As Munich Re’s largest reinsurance subsidiary, Munich Reinsurance...
Munich Re Posts $1.25 Billion Q1 Profit
May 10 2006 // Despite slightly higher claims costs of €274 million ($350 million) Munich Re’s first quarter net profits rose 41.7 percent to €979 million ($1.25 billion) after tax. Operating profits were up by 29.4 percent to...
Munich Re Helps UN Launch ‘Principles for Responsible Investment’
May 1 2006 // Munich Re was one of a number of large investment groups who became original signatories for the United Nations “Principles for Responsible Investment,” launched last week by UN Secretary General Kofi...
Munich Re AGM Sets Record Dividend; 2006 Outlook Optimistic
Apr 20 2006 // Shareholders at Munich Re’s Annual General Meeting on Wednesday April 19 were treated to some good news. Proposals by the reinsurer’s Supervisory Board and Board of Management were adopted by large majority of...
Munich Re’s 4Q Profit Quadruples Despite Gulf
Mar 15 2006 // Munich Re AG, the world’s largest reinsurer by gross premiums, said Tuesday its fourth-quarter profit quadrupled and its annual earnings rose despite the furious series of hurricanes that struck the Gulf of Mexico...
Munich Re January Reinsurance Treaty Renewals Show Rate Increases
Feb 15 2006 // Munich Re followed Swiss Re’s announcement yesterday (See IJ Web site Feb. 14) with its own upbeat report on the January reinsurance treaty renewal season. The world’s largest reinsurer said that as of Jan. 1...
Munich Re to Raise Dividend by 55% Despite Increases in 2005 Cat Losses
Dec 29 2005 // In a year that will go down as the costliest ever for the insurance industry, it seems paradoxical that Munich Re, the world’s largest reinsurer – at least until Swiss Re completes its takeover of GE Insurance...
Munich Re Reports on Tsunami Loss Inspection Results
Dec 28 2005 // Munich Re has released the results of a “loss inspection” conducted on the West Coast of Thailand to assess the consequences of the devastating tsunami, which struck the area one year ago. Experts from the...
Munich Re Study Cites Changes in Atlantic Hurricane Risk
Dec 16 2005 // A report prepared by Dr. Eberhard Faust, who heads Munich Re’s Climate Change Research Department, points to some significant changes in the hurricane risk factors in the North Atlantic. Munich Re notes: “The...
Munich Re Issues $128.7 Million Windstorm Cat Bonds
Nov 28 2005 // Cat bonds seem to be enjoying something of a revival in Europe, largely as a response to increased windstorm and flood losses, as well as the passage of Hurricane Katrina. Munich Re recently increased its commitment to...
S&P Rates Munich Re Mauritius ‘BBB’
Nov 9 2005 // Standard & Poor’s Ratings Services announced that it has assigned its “BBB” long-term counterparty credit and insurer financial strength ratings to Munich Mauritius Reinsurance Co. Ltd. (Munich Re...
