Munich Re News

European Insurers Look to Hoarding Cash After Brexit Vote

Investors will consider hoarding cash in vaults as government bond yields fall deeper into negative territory following the U.K.’s vote to leave the European Union, according to Talanx AG, Germany’s third-biggest insurer. “Storing physical cash as an alternative to paying …

Persistent Soft Market Begins to Hit Reinsurer Stock Prices: A.M. Best

While global reinsurers are continuing to withstand challenging market conditions, their stock prices, on average, are starting to take a hit as a result of the persistent soft market and its negative effect on top line growth, according to a …

Pandemics and Climate Change Present Opportunity for Insurers

The shoe may eventually be placed on the other foot for the U.S. This nation has a long-standing tradition of innovating products and ideas – particularly insurance products – and then exporting them to other countries. Now the U.S. may …

Munich Re to Spend $1.1B by 2020 to Restructure Primary Insurance Unit

Munich Re, the world’s second-biggest reinsurer, plans to spend 1 billion euros ($1.1 billion) by 2020 restructuring operations at its loss-making primary insurance unit in Germany. The plan for ERGO’s German operations includes cutting 1,835 jobs, or about 13 percent …

Rio Olympics Will Proceed – Despite Zika Epidemic: Munich Re Underwriter

Should the Olympics proceed in Rio de Janeiro in August as planned? With the lighting of the torch set to take place in less than three months, a handful of medical experts are calling for the games to be postponed …

Re/Insurance CEOs Join Insurance Development Forum, UN & World Bank Initiative

A group of re/insurance and global broking CEOs are assisting the work of the Insurance Development Forum (IDF), which was launched last month to help build resilience to climate risk and natural disasters, while bridging the insurance protection gap for …

Munich Re’s Q1 Net Income Drops to $489.9M; Annual Profit Target Revised

Munich Re, the world’s second-biggest reinsurer, revised its full-year profit target to include restructuring charges at its primary insurance unit and losses on equity investments that hit first-quarter earnings. The shares fell to the lowest in more than eight months. …

Allianz Q1 Profit Rises 21% to $2.5B, Helped by Gains from Selling Investments

Allianz SE said first-quarter profit surged 21 percent, beating analysts’ estimates, as Europe’s biggest insurer was helped by gains from selling investments. The shares rose. Net income climbed to 2.2 billion euros ($2.5 billion) from 1.8 billion euros [$2.1 billion] …

HSB BI&I of Canada Offers Equipment Breakdown Cover for Microelectronics

The Boiler Inspection and Insurance Company of Canada (HSB BI&I), part of Munich Re, announced the introduction of TechAdvantage™, its new standard equipment breakdown policy. The company said it is the first equipment breakdown insurance product covering undetectable physical damage …

Munich Re Issues First Quarter Profit Warning on Lower Equity Investments

Munich Re, the world’s second-biggest reinsurer, fell the most since August 2013 after saying first-quarter profit will be lower than it previously expected. Earnings for the quarter will also be lower than a year earlier after market turmoil caused the …