A report on the insurance industry released Wednesday shows “a profound lack of preparedness in addressing climate-related risks and opportunities.” Insurance industry representatives immediately criticized the report as a negative take on the industry’s ability to adapt and not reflective …
Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …
Munich Re, the world’s biggest reinsurer, said second-quarter profit rose 45 percent helped by higher investment income. Net income advanced to €765 million ($1.02 billion) from €528 million [$706 million] a year earlier, the company said in a statement today. …
A.M. Best announced that it has made some revisions to the criteria it uses in constructing its ratings reports, which will “provide clarification on several issues related to the rating of an insurance company’s debt, including A.M. Best’s approach to …
The world’s largest reinsurer, Munich Re, reported an almost 5 percent drop in net profit in the first quarter, as a strong euro dragged down premium income. “Despite negative currency effects, we almost matched the outstanding result of the first …
A study from Munich Re notes that although natural catastrophe losses in 2013 were dominated by floods, “detailed analyses have shown that protective measures can drastically reduce losses. For example, the June 2013 floods in Germany and neighboring countries proved …
Aon Benfield Securities, the investment banking division of global reinsurance intermediary and capital advisor Aon Benfield, announced that it has “successfully completed a ‘Cat in the Box’ transaction for I.D.I. Insurance Company Ltd. (Israel Direct Insurance), protecting the insurer against …
A slump in reinsurance prices is playing to the strengths of the biggest global reinsurers, while piling pressure on smaller competitors to diversify or consolidate. Reinsurers, which help insurers shoulder risk in exchange for part of the profit, this month …
Global reinsurer, Munich Re, announced it is expanding its presence in the U.S. health reinsurance business with the opening of a new regional office in Minnetonka, Minn. The company said this decision was taken to seize opportunities arising from the …
Munich Re, the world’s largest reinsurer, said its Hartford Steam Boiler agreed to buy the 24-story building that serves as the unit’s headquarters. The structure at One State Street in Hartford, Connecticut, will be purchased from the Hines real estate …
