Joachim Wenning admitted he would not be to everyone’s liking long before taking the helm of Germany’s Munich Re. That hard-nosed approach could prove valuable as the 52-year-old tackles falling profits, disgruntled investors and headwinds beyond his control at the …
The global insurance industry is set to grow more strongly at 4.5 percent per annum on average (3.0 percent in real terms, or adjusted for inflation) during 2017 and 2018, according to Munich Re. While premium income is likely to …
Building on their existing collaboration, Beazley and Munich Re’s Corporate Insurance Partner announced the creation of “Vector,” a partnership that aims “to bring innovation and capacity to the large cyber market.” Vector cements a relationship the two insurers forged a …
Plum Underwriting, the London-based specialist home insurance managing general agent, announced the launch of cyber and data risks cover embedded within high net worth (HNW) and mid net worth (MNW) home insurance products in the UK. Plum’s Home Cyber covers …
Dominick Hoare, chief underwriting officer for Munich Re Syndicate Ltd., was elected this week to the position of corporate-external member to the Council of Lloyd’s, which is the body responsible for the supervision of the Lloyd’s market. Hoare represents Munich …
Pool Re announced it has increased its commercial reinsurance cover to £2 billion ($2.5 billion), compared with the £1.95 billion ($2.4 billion) of cover previously in place. The placement further distances the UK Treasury, and thus, ultimately, the UK taxpayer …
The January renewals period show that Solvency II will increase demand for reinsurance products as European insurers attempt to strengthen their capital position through risk transfers, Fitch Ratings said. The main beneficiaries are likely to be the financially strongest reinsurers …
Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a …
The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …
Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in Japan and devastating floods in China – …
