Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re to Issue €1 Billion in Bonds; Best, S&P Comment
May 29 2007 // Munich Re announced that it is preparing to issue a subordinated bond for approximately €1 billion ($1.3456 billion). The reinsurer described the debt issue as “a perpetual bond and callable by Munich Re from ten...
Munich Re Buys Bell & Clements
May 9 2007 // Munich Re has acquired the Bell & Clements Group, an insurance and reinsurance broker, which operates in the UK from its London offices and in the U.S. from its headquarters in Reston, VA. The press announcement said:...
Munich Re Q1 Net Stable; Announces Future Plans
May 4 2007 // Germany’s Munich Re Group reported that first quarter consolidated results rose slightly to €982 million ($1.33 billion) compared to €978 billion ($1.326 billion in the same period of 2006. Operating results,...
Munich Re AGM Highlights Improved Results, Future Plans
Apr 27 2007 // Munich Re’s annual general meeting yesterday, April 26, highlighted the reinsurer’s strengthened economic position, strong 2006 and first quarter results and improving prospects for the future. Shareholders got...
Oechslin to Replace Shamieh as Munich Re Deputy CRO
Apr 19 2007 // Munich Re announced that Charlie Shamieh, the reinsurer’s Chief Risk Officer (CRO), will shortly be relinquishing his position for family reasons and will leave the Company “by amicable agreement in order to...
Munich Re Releases 2006 Nat Cat Report; Focus on Climate Change
Mar 8 2007 // In a just released report – “Topics Geo — Natural catastrophes 2006” – Munich Re maintains that “continuing unfavorable natural climate cycle and additional effects of global warming will...
Allianz, Munich Re Endorse Global Roundtable Climate Change Accords
Feb 21 2007 // Two of the world’s largest insurers – Allianz AG and Munich Re – announced that they have signed on to the joint declaration issued by the Global Roundtable on Climate Change (GRoCC) in New York City on...
Munich Re Estimates Kyrill Losses at $775 Million
Jan 29 2007 // Based on current estimates, Munich Re expects pretax losses from Windstorm Kyrill to be around €600 million ($775 million). The estimates include claims relating to the Group’s primary insurance subsidiary...
Munich Re Warns Insurers Against Nat Cat ‘Complacency’
Dec 29 2006 // While recognizing that economic losses from natural catastrophes were considerably lower in 2006 than in 2005, Munich Re warned the industry against becoming too complacent. In a bulletin on the reinsurer’s web site...
Munich Re Places $190 Million Calif. Quake Cat Bond for Zurich
Dec 22 2006 // Munich Re announced that it has transferred earthquake risks in California to the capital markets for subsidiaries of the Zurich Financial Services Group in cooperation with Aon Capital Markets, providing coverage through...
Munich Re Tells UNEP Conference $1 Trillion Loss Year Possible
Nov 15 2006 // Dr. Thomas Loster, a geographer who advises the Munich Re Foundation, told those attending the current United Nations Environment Program (UNEP) Conference in Nairobi that, “Most insurance and re-insurance companies...
Business Moves
Sep 25 2006 // Alliant, Jardine Lloyd Thompson Jardine Lloyd Thompson Group PLC sold its U.S.-based property and casualty insurance and employee benefits businesses to California-based Alliant Insurance Services Inc. JLT said the...
Business Moves
Sep 25 2006 // Progressive, Mass. Commercial Auto Massachusetts is about to get a new auto carrier — for commercial, not personal, lines. Progressive Insurance is awaiting approval of rate and form filings from the Massachusetts...
Munich Re Warns on Piracy Threat
Sep 25 2006 // Modern pirates may no longer favor black beards, eye patches and rum, but they nonetheless remain a threat to shipping. Munich Re has duly recognized the problem in a newly issued brochure on the hazard of piracy at sea,...
American Re Now Known as ‘Munich Re America’
Sep 6 2006 // Munich Reinsurance America Inc. officially changed its name from American Re-Insurance Company effective Sept. 5, 2006. The name of the holding company, American Re Corporation, has changed to “Munich Re America...
Munich Re Posts 143% Gain in 1st Half Profits to $3.47 Billion
Aug 3 2006 // Germany’s Munich Re may no longer be the world’s biggest reinsurer, but it can still make a great deal of money, posting a profit of €2.129 billion ($3.47 billion) for the first six months of the year....
American Re to Become Munich Re America Starting in Sept.
Aug 3 2006 // American Re-Insurance Company out of Princeton, N.J. announced that in September 2006 it will change its name to Munich Reinsurance America, Inc. As Munich Re’s largest reinsurance subsidiary, Munich Reinsurance...
Munich Re Posts $1.25 Billion Q1 Profit
May 10 2006 // Despite slightly higher claims costs of €274 million ($350 million) Munich Re’s first quarter net profits rose 41.7 percent to €979 million ($1.25 billion) after tax. Operating profits were up by 29.4 percent to...
Munich Re Helps UN Launch ‘Principles for Responsible Investment’
May 1 2006 // Munich Re was one of a number of large investment groups who became original signatories for the United Nations “Principles for Responsible Investment,” launched last week by UN Secretary General Kofi...
Munich Re AGM Sets Record Dividend; 2006 Outlook Optimistic
Apr 20 2006 // Shareholders at Munich Re’s Annual General Meeting on Wednesday April 19 were treated to some good news. Proposals by the reinsurer’s Supervisory Board and Board of Management were adopted by large majority of...
