Latest Munich Re Headlines

Munich Re’s 9-Month Profit Jumps 17.5% to $4.84 Billion

Nov 5 2007 // Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which...

Business Moves

Nov 4 2007 // AmWINS, London American General AmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc. Based in San Diego, Calif., London American is...

Munich Re’s ERGO in Joint Venture with Indian Insurer HDFC Ltd.

Nov 2 2007 // In a joint statement Indian housing finance pioneer HDFC Ltd. and Germany’s ERGO (Munich Re’s primary insurance division) announced that they have agreed to form a general insurance joint venture. The...

Munich Re’s ‘Geo Data Service’ Analyzes Nat Cat Impact

Oct 30 2007 // An announcement from Munich Re notes that there “has been a steady rise in weather-related natural catastrophes during recent decades, and this also applies to Europe.” As a result the reinsurer has developed...

Munich Re Acquires UK’s MSP Underwriting/Stake in Syndicate 318

Oct 30 2007 // Munich Re is acquiring the UK Company MSP Underwriting Ltd. for a figure it said is in the “mid double-digit million Euro range.” MSP Underwriting Ltd. owns both the Lloyd’s managing agency Beaufort...

Best Announces Rating Actions on Munich Re/Midland Acquisition

Oct 19 2007 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Germany’s Munich Re Group and the FSR of ‘A’...

Munich Re to Acquire Midland Co.

Oct 17 2007 // It didn’t take Munich Re very long to make good on its intentions to expand in then U.S. P/C market (See IJ web site Oct. 9). The world’s second largest reinsurer announced today that it has “concluded an...

Munich Re Changes Model in Push for More U.S. P/C Business

Oct 10 2007 // Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more...

Oct 8 2007 // People The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins...

Munich Re Centralizes London Units

Sep 21 2007 // The Munich Re Group has moved three of its London market P/C core business units to one location at Plantation Place in Fenchurch Street. The goal is to “to maximize broker and client access to its insurance and...

Best Affirms Munich Re ‘A+’ Ratings; Outlook Raised to Stable

Sep 10 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of Germany’s Munich Reinsurance Company and its rated...

People and Places

Aug 6 2007 // The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins on Sept....

Aug 6 2007 // People The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins...

People

Aug 6 2007 // The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins on Sept....

People

Aug 6 2007 // The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins of PCI...

Phelan to Retire; Kuczinski to Suceed as Munich Re America Chief

Jul 18 2007 // Munich Reinsurance America Inc. announced that John P. Phelan will retire as planned on Dec. 31, 2007, after serving nearly six years as its chairman and CEO. Anthony J. Kuczinski, who is currently president of Munich Re...

Munich Re Selects GoldSim Simulation Software for Analysis of Reinsurance Solutions

Jul 2 2007 // July 2nd 2007 – Seattle. The GoldSim Technology Group, a leading provider of advanced probabilistic simulation software, today announced that Munich Re, one of the world’s leading reinsurance companies, has...

Ratings Roundup: Munich Re (Bonds)-QBERIO-QBEMEX-Scandinavia-Hiscox

Jun 15 2007 // Standard & Poor’s Ratings Services has affirmed its “A” junior subordinated long-term debt rating on the €1.5 billion ($2 billion) undated, subordinated, fixed-to-floating rate bonds issued by...

Ratings Recap: HSB Engineering; Everest Re

Jun 14 2007 // A.M. Best Co. has affirmed the financial strength rating of “A++” (Superior) and the issuer credit rating (ICR) of “aa+” of the UK-based HSB Engineering Insurance Limited (HSBEIL) with a stable...

Munich Re Leads Caribbean Nat Cat Risk Syndicate

Jun 1 2007 // Munich Re will lead a syndicate – the “Caribbean Catastrophe Risk Insurance Facility” (CCRIF), set up to offer 16 countries in the Caribbean insurance cover against hurricanes and earthquakes. The...