Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re Sees $933 Million 2011 Profit Despite Cat Losses
Feb 2 2012 // Munich Re’s estimated earnings figures for 2011 confirm a net profit from its three sectors – reinsurance, primary and health –of €710 million [$933 million], compared to a net profit of €2.43 billion [$3.2...
Best Affirms American Modern Home Insurance and Subs Ratings
Jan 23 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Ohio-based American Modern Home Insurance Company (AMHIC) and its...
Munich Re Creates New Coverage for Photovoltaic Manufacturers
Jan 19 2012 // Munich Re has launched a new product to complement its performance guarantee cover for photovoltaic manufacturers. The product covers the risk born by operators that solar module output may fall below the level guaranteed...
Earthquakes Prompt Record Insurance Claims in 2011
Jan 4 2012 // Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, Munich Re , the world’s biggest reinsurer, said on Wednesday. The cost to...
Munich Re Describes Climate Conference Results as ‘Disappointing’
Dec 14 2011 // From Munich Re’s perspective, the recently concluded climate summit in Durban “yielded disappointing results that fail to reflect the world climate’s dramatic situation.” Prof. Peter Höppe, head of...
Munich Re Estimates Thai Flood Claims around $670 Million
Dec 8 2011 // The widespread floods in Thailand, which reached their highest point in October and November, “are the costliest natural catastrophe in the country’s history,” according to a bulletin from Munich Re....
Munich Re Posts $400 Million Q3 Profit in a ‘Difficult’ Year
Nov 8 2011 // Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the...
Best Affirms Munich Re, Subsidiaries, Munich Re America ‘A+’ Ratings
Oct 28 2011 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all...
Munich Re: ‘Uncertainty,’ Economic Crisis, Challenge Re/insurers
Oct 25 2011 // A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the...
Ratings Recap: HSB, Southern General/Green Star, DAKOTACARE
Oct 14 2011 // A.M. Best Co. has upgraded the financial strength rating (FSR) to A++ (Superior) from ‘A+’ (Superior) and the issuer credit ratings (ICR) to “aa+” from “aa-” of The Hartford Steam Boiler...
Ratings Recap: HSB (UK), Nissan Global Re, Optima, Hatherley/Park
Oct 13 2011 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘A++’ (Superior) from ‘A+’ (Superior) and the issuer credit rating to “aa+” from...
HSB UK Names Kane Chief Underwriting Officer
Sep 7 2011 // Specialist engineering and construction insurer HSB Engineering Insurance Limited has appointed Andy Kane as chief underwriting officer. He has over 20 years experience, and replaces Tom Howe who recently retired as CUO...
Despite Q2 Profits Munich Re Posts $297 Million 1st Half Loss
Aug 5 2011 // Munich Re, the world’s largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million [$1.042 billion], an increase over the €709 million [$1 billion] posted...
Catastrophe Costs Will Set Record: Munich Re
Jul 12 2011 // The total costs associated with natural catastrophes will reach a record this year after an earthquake in Japan pushed first-half losses to $265 billion, according to Munich Re. The world’s biggest reinsurer by...
Ratings Recap: IGIUK, MAPFRE Re (Panama), Arab Misr, Gulf, Caribbean Alliance
Jun 23 2011 // A.M. Best Europe – Rating Services Limited has assigned a financial strength rating of ‘A-‘ (Excellent) and an issuer credit rating of “a-” to International General Insurance Company (UK) Limited...
HSB Engineering Names Tingus to Head HR
Jun 14 2011 // Specialist engineering and construction insurer HSB Engineering Insurance Limited has appointed Peter Tingus as head of HR. He joins the group’s UK office in London from HSB’s Hartford office in the US, where...
Ratings Roundup: Mapfre Tepeyac, UFP, Cotswold, Johnston Re
May 18 2011 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of Mexico’s Mapfre Tepeyac S.A., both with stable outlooks. The ratings reflect...
Hartford Steam Boiler Introduces Green Equipment Breakdown Coverage
Apr 22 2011 // The Hartford Steam Boiler Inspection and Insurance Co. is taking its green coverage to the next step with HSB Green Equipment Breakdown coverage. HSB Green Equipment Breakdown coverage helps make insureds whole in the...
Munich Re Ups Dividend, Comments on Impact of 2011 Disasters
Apr 21 2011 // Munich Re’s annual general meeting (AGM) produced some good news for the shareholders of the world’s largest reinsurer. It announced a dividend increase to €6.25 [$9.138] per share for the financial year...
