Munich Re News

Solvency II Drives Demand for Reinsurance During 1/1 Renewals: Fitch

The January renewals period show that Solvency II will increase demand for reinsurance products as European insurers attempt to strengthen their capital position through risk transfers, Fitch Ratings said. The main beneficiaries are likely to be the financially strongest reinsurers …

Munich Re Q4 Earnings Drop to 500M Euros ($530M) on Nat Cat Claims

Munich Re, the world’s biggest reinsurer, reported a bigger-than-expected drop in fourth-quarter earnings as claims from natural disasters rose while prices continue to fall. Net income declined to about 500 million euros ($530 million) from about 700 million euros a …

Blockchain Insurance Industry Initiative B3i Grows to 15 Members

The Blockchain Insurance Industry Initiative B3i, which was launched in October 2016 to explore the potential use of distributed ledger technology, has grown to 15 members from its original five. Members of the B3i initiative are collaborating to explore the …

Global Natural Catastrophes Cost Insurers $50B in 2016: Munich Re

Insurers paid out around $50 billion for natural disaster claims last year, almost double 2015’s payout of $27 billion, reinsurer Munich Re said in its annual natural catastrophe review on Wednesday. Earthquakes in Japan and devastating floods in China – …

Europe’s Insurers, Pensions Seek Higher Yields via Infrastructure Investments

Europe’s pensions and insurers, seeking returns in infrastructure deals after asset purchases by the European Central Bank gutted yields on bonds, say they’re being crowded out again. Their frustration is directed at the European Investment Bank, a public lender tasked …

Next Insurance, Munich Re to Offer Coverage for Commercial Photographers

Next Insurance has partnered with Munich Re to launch a product targeting commercial photographers, who will be able to buy, renew and maintain policies online. According to a 2016 report by McKinsey & Co, the small commercial market has good …

Credit Guarantee & Investment Facility Signs Inaugural Treaty Led by Munich Re

The Credit Guarantee and Investment Facility (CGIF)* announced it has executed its inaugural reinsurance treaty, with a panel of market leading private reinsurers, led by the specialist credit reinsurance team of Munich Re. This treaty, which incepted on Oct. 1, …

Rising Risks Could Cost Global Cities $1.17 Trillion of GDP in 2017: Cambridge Study

The costs of major shocks to the global economy from natural and manmade threats could put at risk $1.17 trillion of the total projected GDP of the world’s major cities in 2017, according to the findings of a report compiled …

Insurtech Startups Attract Growing List of Traditional Insurer Partners

Listening to Andrew Rear talk about insurers, you wouldn’t think he works for one that’s been around for 136 years. The 46-year-old head of Munich Re’s Digital Partners unit has said the industry is “one of the last bastions of …

Insurtech Startup Trov Launches in UK, Offering On-Demand Coverage

The on-demand economy, which uses smartphone technology to immediately fill consumer needs, has changed the way people order food, a car, or a place to stay. Now, technology startups are targeting the next business frontier – insurance – offering coverage …