munich re News

A.M. Best Affirms Ratings of Munich Re and Subsidiaries

A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries. Concurrently, A.M. Best has affirmed all debt ratings of Munich …

Munich Re Profit Misses Estimates as Investment Income Falls

Munich Re, the world’s biggest reinsurer, posted third-quarter profit that missed analyst estimates as low interest rates eroded returns from its fixed- income investments. Net income rose 16 percent from the year-earlier period to €735 million [$937 million], the Munich-based …

Climate Change Report Slams Insurers for ‘Profound Lack of Preparedness’

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 of …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

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 Second-Quarter Profit Rises 45% on Investment Gains

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. …

Best Revises Insurance Holding Company and Debt Ratings: Companies Affected

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 …

Strong Euro Decreases Munich Re’s Q1 Net Profit, Premium Income

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 …

2013 Floods Prove Positive Results from Defense Measures: Munich Re

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 Completes Quake Protection for Israeli insurer I.D.I.

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 …

Falling Reinsurance Rates Presage Sector Shake-out

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 …