Munich Re and Marsh & McLennan Cos., the largest insurance broker by market value, introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend manufacturing. The product would cover as much as $10 …
Marsh and Munich Re have launched non-damage business interruption insurance (NDBI) product that combines risk transfer and consulting services to assist life sciences companies in managing the impact of regulatory actions imposed by the U.S. Food and Drug Administration (FDA). …
Politicians must act to cap global warming when they meet at a United Nations summit at the end of the year as the financial and humanitarian consequences of natural catastrophes become ever clearer, reinsurers meeting at an industry conference said. …
A pair of massive blazes in the Northern California are a bleak reminder of how bad things can get in a state with persistent drought and windy conditions. A more worrisome thought is California’s official wildfire season has yet to …
Major reinsurers like Munich Re, Swiss Re, Hannover Re are looking to new markets and selling more cover to existing clients to ease price pressures after several years of falls, they said at their annual meeting in Monte Carlo this …
The world’s largest reinsurers and brokers see little relief in pricing in 2016 amid a relentless influx of alternative capital from pension funds and one of the past decade’s quietest years for catastrophe losses. Rates for property-and-casualty reinsurance are expected …
Munich Re, the world’s biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion euros [$1.14 billion] in the second quarter from 758 million …
Munich Reinsurance America, Inc. has launched a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood Insurance Program (NFIP), flood is the most common natural disaster …
Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural catastrophe losses incurred in the first half …
Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the political situation develops, it is possible that we will …
