Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Massachusetts Fair Plan Gets $96M Catastrophe Bond
Jul 12 2010 // The Massachusetts Property Insurance Underwriting Association (MPIUA) has received a $96 million catastrophe bond issuance that transfers hurricane risk in Massachusetts to the capital markets, a number of reinsurers...
First Half 2010 Catastrophe Losses Double Average at $22 Billion
Jul 8 2010 // A report from Munich Re (www.munichre.com) notes that the first half of 2010 was “marked by an exceptionally large number of natural catastrophes and the scale of the losses they caused.” The reinsurer recorded...
Munich Re: ‘Ever Higher’ Nat Cat Costs; Ups Chile Quake Loss to $1 Billion
Jun 8 2010 // A bulletin from Munich Re, the world’s largest reinsurer, concludes that the “long-term trend towards ever higher natural catastrophe costs” looks set to continue, according to an analysis from its Geo...
Munich Re Securitizes $80 Million for Europe Windstorm, U.S. Hurricanes
May 21 2010 // Munich Re has obtained cover for US hurricane and European windstorm risks amounting to US$ 80 million from special-purpose vehicle EOS Wind Ltd, which placed a catastrophe bond in the market. “MEAG, Munich...
Munich Re Posts $633 Million Q1 Profit Despite Nat Cat Losses
May 10 2010 // Munich Re achieved a consolidated profit of €485 million ($633 million) in the first quarter of 2010, slightly ahead of the €437 million ($571 million) in the same period last year. The earnings bulletin...
(Re)Insurers Take on $5 Billion Risk with Soccer World Cup Coverage
May 10 2010 // Soccer teams and fans aren’t the only ones girding themselves for the start of the World Cup in South Africa. The world’s insurance companies have sold policies covering $5 billion worth of risks linked to the...
European Insurers Expect Little Hit from Volcano Fallout
Apr 16 2010 // Airlines which stand to lose millions of euros from a cloud of Icelandic volcanic ash disrupting flights and closing airports across northern Europe are expected to have little recourse to recoup losses from insurance...
Munich Re America Changes Brand Name to Munich Re
Apr 6 2010 // Munich Reinsurance America, Inc. has changed its brand name from Munich Re America to Munich Re and adopted the Munich Re logo for all marketing materials. The company said its positioning strategy will focus on offering...
Buffett Increases Stake in Munich Re to Nearly 8%
Mar 26 2010 // Famed U.S. investor Warren Buffett, already Munich Re’s biggest shareholder, has built up his stake in the world’s No. 1 reinsurer to nearly 8 percent, increasing his bet on the sector’s long-term...
Best Affirms American Modern Insurance Group Ratings
Mar 12 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of American Modern Insurance Group of Amelia, Ohio and its...
Reinsurers Say $4 to $7 Billion Chile Quake Loss ‘Unlikely’ to Raise Rates
Mar 10 2010 // Last month’s huge earthquake in Chile might cost the insurance industry up to $7 billion in damage claims, the world’s top two reinsurers said, but it looks unlikely to raise reinsurance prices. World leader...
A ‘Great Earthquake’ Strikes Chile; Insurance Doesn’t Pose Systemic Risks to the Economy; Berkshire Buys More Munich Re
Mar 7 2010 // February was a short month, but a deadly one. In addition to a massive earthquake in Chile, the Northeastern U.S. was hit by three blizzards; floods and mudslides ravaged the Portuguese island of Madeira and beleaguered...
Berkshire’s National Indemnity Stake in Munich Re Exceeds 5%
Feb 23 2010 // Munich Re has released a statement that “National Indemnity Company, Omaha, USA, informed us in accordance with Section 21, para. 1 of the German Securities Trading Act (WpHG) that its share of the voting rights in...
Germany’s Munich Re and Allianz to Wind Down Business in Iran
Feb 19 2010 // Germany’s Munich Re and Allianz halted all remaining insurance business in Iran as their national representative body said it backed international moves toward tougher sanctions against Tehran. Against a backdrop of...
Aon Warns on Political, Financial Risks; Berkshire Bets a Billion on Munich Re; IPCC Defends Climate Change Report; Frau
Feb 7 2010 // Aon Risk Services 17th Political Risk Map highlights continued political and financial instability for global business in 2010, closely linked to the ongoing recession in many parts of the world. “Rising risk levels...
Munich Re to Post $3.57 Billion 2009 Profit; 95.3% Combined Ratio
Feb 2 2010 // Munich Re announced that according to its “preliminary calculations” consolidated profits increased “significantly” in 2009 to €2.56 billion [$3.57 billion, compared to €1.58 billion [$2.2...
Buffett’s Berkshire Amasses $1 Billion Stake in Munich Re
Jan 27 2010 // Munich Re posted a statutory notice on Tuesday announcing that Berkshire Hathaway’s stake in the company rose to 3.045 percent on January 18, just above the level at which such holdings must be...
Munich Re Analyzes 2009 Nat Cats; A Lot, But Few Big Ones
Dec 30 2009 // A report from Munich Re confirms that losses from natural catastrophes “were far lower in 2009 than in 2008 due to the absence on the whole of major catastrophes and a very benign North Atlantic hurricane...
Munich Re CEO Slams Copenhagen Failure; Calls for ‘Small Party’ Talks
Dec 29 2009 // Munich Re’s CEO Nikolaus von Bomhard issued a statement on the reinsurer’s web site that left no doubt concerning the disappointment he (and the Group) feel following the failure of the UN’s Copenhagen...
QBE Europe to Purchase Munich Re’s Evergreen Brand, Renewal Rights
Dec 18 2009 // QBE European Operations (QBE EO), the specialist business insurer, announced its purchase of the brand and renewal rights of the Evergreen portfolio from MSP Underwriting Limited, the Lloyd’s underwriting agency,...
