Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
What to Expect in Pandemic Insurance. Munich Re Expert Looks Back and Ahead.
Jul 28 2020 // Summary: Dr. Gunther Kraut, head of Epidemic Risk Solutions at Munich Re, discusses the current state of the pandemic insurance market and what can be expected for the future. He says one of the challenges of developing...
Global Natural Catastrophe Losses During H1 Ranged from $68B to $75B: Munich Re, Aon
Jul 24 2020 // Munich Re and Aon both issued reports this week on the economic and insurance costs of global natural catastrophes during the first half, which varied in magnitude by $7 billion. While Munich Re estimated that natural...
Munich Re Specialty Releases MPL Policy for Non-Specialist Businesses
Jul 10 2020 // Munich Re Specialty Insurance (MRSI) has released a miscellaneous professional liability product for non-specialist, commercial businesses. Miscellaneous professional liability (MPL) coverage provides liability and defense...
Munich Re Syndicate Taps McAdams from AXA XL as Head of Marine
Jun 18 2020 // Rob McAdams will be joining the Munich Re Syndicate as head of Marine. Based in London, he will oversee the global syndicate’s marine portfolio and help drive the underwriting business across cargo, fine art &...
HSB Launches Online Broker E-Trading Platform in Ireland
Jun 10 2020 // Specialist engineering and technology insurer HSB, part of Munich Re, has expanded its e-trade offering by launching HSB Fast Track, its broker online trading platform, in Ireland. The HSB Fast Track e-trade platform is...
Munich Re’s ERGO to Take 24.9% Stake in Chinese P/C Insurer
Jun 8 2020 // Munich Re’s ERGO insurance unit has agreed to take a 24.9% stake in Taishan Property & Casualty Insurance Co. Founded in 2011, Taishan Insurance is a nationwide property and casualty insurer based in Shandong,...
S&P Affirms Munich Re’s ‘AA-‘ Ratings, Reflecting Sufficient Capital for COVID-19 Crisis
May 29 2020 // S&P Global Ratings has affirmed its “AA-” long-term issuer credit and financial strength ratings for Munich Re and its subsidiaries, with a stable outlook. The stable outlook reflects S&P’s view...
Munich Re Expects Coronavirus-Related Claims in Excess of $1 Billion During 2020
May 7 2020 // Munich Re said on Thursday it expected to receive claims for canceled or postponed events because of the coronavirus crisis in excess of 1 billion euros ($1.08 billion) this year after it posted a 65% drop in first-quarter...
This Insurance Would Have Helped in Coronavirus Crisis But Nobody Bought It
Apr 3 2020 // Like everyone else, Peter Lacovara is coping with COVID-19, working at home to limit contagion to the coronavirus and stay healthy. He’s also plugging away trying to keep businesses healthy, as well. In his role as a...
Munich Re Specialty Group Appoints Boo from Ironshore as Head of Asia
Apr 3 2020 // Munich Re Specialty Group (MRSG) has appointed Hui Yun Boo as head of Asia, effective April 3, 2020. Boo will be based in the firm’s Singapore office and will lead Munich Re Syndicate offices throughout the Asia...
Munich Re Withdraws 2020 Profit Guidance on COVID-19 Uncertainties
Apr 1 2020 // Munich Re is withdrawing its profit guidance of €2.8 billion (3.1 billion) for 2020 as a result of the “great uncertainty” caused by the macroeconomic and financial impacts of COVID-19 in combination with the...
The Unique Requirements of a Lloyd’s Syndicate-in-a-Box
Feb 4 2020 // Lloyd’s developed the concept of a syndicate-in-a-box (SiaB) to make it easier for innovative capital to enter the market, but there are certain requirements and differences compared to traditional syndicates. The...
Lloyd’s 1st Syndicate-in-a-Box, Operated by Munich Re, Aims to Be an Innovation Lab
Feb 4 2020 // Lloyd’s of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd’s and, ultimately, reduce the cost...
Munich Re Weighs Whether to Set Long-Term Profit Target of $3.3 Billion: Source
Jan 23 2020 // Munich Re is considering whether to set itself a long-term net income target of 3 billion euros ($3.3 billion) a year as the company seeks to match levels it regularly achieved until 2015. The reinsurer may announce such a...
New York Governor Lays out Aggressive Climate Change Plan
Jan 9 2020 // New York Gov. Andrew Cuomo is proposing an aggressive climate change-fighting campaign for his state that includes a $3-billion bond act that would be put on the ballot this November. Cuomo, who says that money would go to...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
Munich Re Group Agrees to Buy Manhattan Skyscraper
Dec 20 2019 // Munich Re Group, advised by MEAG, has agreed to acquire the 330 Madison Avenue building in New York City. The 39 story high-rise dates from 1963 and was designed by Ely Jacques Kahn, one of the fathers of the New York City...
Munich Re’s Libman Joins Liberty Mutual’s Shared Economy/New Mobility Team
Nov 21 2019 // Liberty Mutual Insurance has appointed Max Libman as lead underwriting consultant for its national Sharing Economy & New Mobility unit. The dedicated Sharing Economy & New Mobility practice was launched earlier...
Munich Re’s Assennata Joins North Carolina-Based IAT Insurance Group
Nov 4 2019 // IAT Insurance Group, a provider of specialty property and casualty products, has added Steve Assennata to the company to serve as chief underwriting officer (CUO) of its Programs unit. The company is based in Raleigh,...
Reinsurers Look at Cyber’s Massive Growth Possibilities-With Caution
Oct 22 2019 // Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as...
