Munich Re News

Munich Re Reports Q4 Profit Remains Level at 700M Euros; Dividend Hike Ahead

Munich Re, the world’s second-biggest reinsurer, plans to increase its dividend more than expected after fourth-quarter profit remained unchanged from a year earlier. The company plans to raise the dividend to 8.25 euros ($9.14) a share for 2015 compared with …

Munich Re Raises Shareholding in India’s Apollo Munich Health Insurance

Munich Re will acquire an additional 23.27 percent of shares of Apollo Munich Health Insurance Co. Ltd., from its joint venture partner, the Apollo Hospitals Group, India, increasing its shareholding from 25.5 percent to 48.75 percent. Representatives of both companies …

El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re

Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on Monday. While the climate phenomenon known as “El …

Munich Re Q3 Profit Declines 29% on Investment Earnings

Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through September from 733 million euros [$800.4 million] a …

Best Affirms Munich Re and Subs Ratings; Outlook Stable

A.M. Best has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings of “aa-” of Munich Reinsurance Company and its subsidiaries. Best has also affirmed the “issue ratings” of Munich Re, as well as the ICR …

Munich Re Working with Clients to Develop Solutions for ‘Digitalization’

A bulletin from Munich Re notes that the “risk landscape for insurers and their clients is changing faster than ever before, especially in terms of technologies, services, sales channels and demand patterns.” As a result the world’s largest reinsurer has …

XL Innovate, XL Group’s Venture Capital Company, Acquires New Energy Risk

Dublin-based XL Group plc announced that XL Innovate*, the venture capital fund sponsored by the company, has acquired all of the shares of New Energy Risk Inc. “New Energy Risk has developed and delivered to the market unique performance warranty products …

Update: Buffett Cuts Munich Re Shareholding, Responds to Reinsurance Slump

Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in Munich Re after lamenting a slump in the reinsurance business. Berkshire’s holding was lowered to 9.7 percent from about 12 percent, Munich Re said in a statement Tuesday, citing a …

Munich Re, Marsh Introduce Pharma Coverage for Regulatory Actions

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, Munich Re Launch Non-Damage Business Interruption Coverage for Life Sciences

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). …