Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
HSB Launches Workplace Violence Insurance for Small Businesses
Feb 18 2021 // HSB, part of Munich Re, has created a new workplace violence insurance coverage for small to mid-size businesses, providing counseling, crisis communications, lost business income and security services to help companies...
Levy to Retire as CEO of Munich Re US; Winter to Succeed Him
Jan 12 2021 // Steven Levy, the longtime president and CEO of Munich Re US, plans to retire on April 1. Munich Re executive Marcus Winter will replace him, the company disclosed. Levy has worked for Munich Re US for 23 years, holding a...
Global Natural Catastrophes Cost $210 Billion in 2020: Munich Re
Jan 7 2021 // Natural catastrophes around the world resulted in $210 billion in damage in 2020, with the United States especially hard hit by hurricanes and wildfires, a top insurer said on Thursday. The damage, tallied by the German...
Munich Re to Halt Coverage for Events Canceled Due to Pandemics
Dec 8 2020 // German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday. The world’s largest resinsurer is making the change after it faced large losses this...
HSB Canada Launches ‘Sensor Systems by HSB’ to Help Cut Commercial Water Claims
Nov 19 2020 // HSB Canada, part of Munich Re, has introduced “Sensor Systems by HSB,” a turnkey solution to help insureds reduce common property claims. The program monitors, predicts and alerts customers to risk events...
HSB Offers Consultancy Services in UK, Ireland to Help Firms Improve Life of Equipment
Nov 16 2020 // HSB is expanding its engineering services to deliver consultancy services that enable businesses to improve efficiency and meet their compliance obligations. Using the technical knowledge and expertise of its engineers,...
EQ One Adds Earthquake Capacity, Expands Limits through Munich Re
Nov 13 2020 // EQ One, a West Coast earthquake insurance underwriter, has added additional capacity to its earthquake offering through Munich Re Specialty Insurance. This increased capacity will allow EQ One team to write larger...
Wright Specialty Insurance Introduces New Education Insurance Offering with Munich Re
Nov 12 2020 // November 12, 2020 – Garden City, NY – Wright Specialty Insurance, which provides a comprehensive suite of property and casualty insurance coverage and services for educational institutions nationwide, has expanded...
Munich Re Reports €800M of COVID-19-Related Losses During Q3
Oct 21 2020 // Munich Re reports approximately €800 million (US$935 million) in COVID-19-related losses in reinsurance during the third quarter. The losses were attributable to various business lines, such as insurance for major events...
Munich Re Forms Partnership to Help Create ‘Pay-Per-Part’ Model for Manufacturers
Oct 14 2020 // The TRUMPF Group and Munich Re Group are entering into a strategic partnership for a “pay-per-part” business model, which enables customers to use a full-service laser machine without having to buy or lease any...
Munich Re Specialty Launches E&O Covearge for Mid-Sized Law Firms
Oct 12 2020 // Munich Re Specialty Insurance has launched a lawyers professional liability (LPL) insurance product, an errors and omissions policy specially designed for mid-size law firms. The LPL policy provides up to $5 million in...
COVID-19 Crisis Renews Attention on Systemic (Uninsurable) Risks
Sep 30 2020 // Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks,...
Munich Re Subsidiary NewRe Names Braune as CEO, Succeeding Strasser
Sep 28 2020 // New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020,...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 21 2020 // Even before the coronavirus crisis hit, the reinsurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
What to Expect in 2021: Reinsurance Market Moving From ‘Timid’ to ‘Hard’
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
Munich Re to Stop Selling Pandemic Business Coverage
Sep 11 2020 // Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half. “We are currently...
Social Inflation, Low Interest Rates, Rising Catastrophes: Recipe for a Hard Market
Sep 9 2020 // Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re. Such price...
Munich Re Expects Beirut Losses of €100 Million; Sees Slowdown in COVID-19 Losses
Sep 8 2020 // Munich Re said it faces claims of at least 100 million euros ($118 million) stemming from the deadly explosion that ravaged much of downtown Beirut last month. The German reinsurer said losses in the “low...
Berkshire Hathaway Specialty Adds ERGO’s Keune to Head Executive Lines in Germany
Aug 24 2020 // Berkshire Hathaway Specialty Insurance (BHSI) has appointed Dr. Carsten Keune as head of Executive & Professional Lines in Germany. Carsten has more than 20 years of industry experience. He was most recently head of...
Munich Re’s Q2 Net Profit Slumps 42% on COVID-Related Losses
Aug 6 2020 // German reinsurance group Munich Re posted a 42% decline in second-quarter net profit, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period. The company, which had already...
