Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
European Commission Approves GAUM Sale to Berkshire, Converium, Munich Re
Mar 3 2003 // The European Commission, the European Union’s regulatory authority, has approved the sale of a number of stakes in Global Aerospace Underwriting Managers Limited (GAUM), a consortium that insures airlines and...
Munich Re Selects SAP for Insurance Solution to Manage Core Processes
Feb 25 2003 // SAP AG announced that Munich Re will implement the reinsurance capability of the company’s mySAP(TM) Insurance software to handle its core business processes, replacing various legacy systems with a single...
Munich Re Estimates 2002 Insured Losses from Catastrophes at $11.5 Billion
Dec 30 2002 // In a yearly review released today Munich Re calculates the overall economic losses from natural and man-made catastrophes in 2002 at a staggering $55 billion, compared to $35 billion last year. However, the world’s...
S&P Lowers Munich Re Ratings to ‘AA+’
Dec 12 2002 // Standard & Poor’s Ratings Services announced that it has lowered its long-term counterparty credit and insurer financial strength ratings on the world’s largest reinsurance group, Munich Reinsurance Co....
A.M. Best Affirms Munich Re’s ‘A++’ (Superior) Rating
Dec 9 2002 // A.M. Best Co. has affirmed the ‘A++’ (Superior) financial strength ratings of Munich Re and its core subsidiaries with a negative outlook. Best, however downgraded Munich Re’s 1.115 billion Euro ($1.126...
Munich Re Optimistic Despite $847 Million Q3 Net Loss
Nov 28 2002 // Munich Re reported that its net profit for the first nine months of 2002 reached 3.24 billion Euros ($3.2 billion) despite a net loss of 859 million Euros ($847 million) in the third quarter. The company noted that the...
S&P Lowers American Re Ratings to ‘AA-‘
Nov 26 2002 // Standard & Poor’s Ratings Services announced that it has lowered its counterparty credit and financial strength ratings on American Re-Insurance Co. and American Alternative Insurance Corp. (together American...
Reinsurance Market Tries to Reel In Profits
Oct 28 2002 // A year ago the reinsurance industry faced the biggest loss event in its history – the attacks on the WTC and the Pentagon. Nevertheless, commentators were almost unanimous in predicting that the market would harden,...
Reinsurance Market Tries to Reel In Profits
Oct 28 2002 // A year ago the reinsurance industry faced the biggest loss event in its history – the attacks on the WTC and the Pentagon. Nevertheless commentators were almost unanimous in predicting that the market would harden,...
Moody’s Downgrades Munich Re’s Ratings to ‘Aa1’
Sep 20 2002 // Moody’s Investors Service announced that has downgraded Munich Re’s insurance financial strength rating from the highest possible ‘Aaa’ to its next highest category ‘Aa1’ due to the...
S&P Removes Munich Re from CreditWatch
Sep 11 2002 // Standard & Poor’s announced that it has removed its triple-‘A’ long-term counterparty credit and insurer financial strength ratings on Munich Re and its core subsidiaries from CreditWatch. The rating...
Munich Re May Have Less Than $2.55 Billion in WTC Claims
Sep 3 2002 // Munich Re’s Chairman Hans-Jürgen Schinzler recently indicated that the world’s largest reinsurer may actually be exposed to less than the €2.6 billion ($2.55 billion) it has reserved for the payment of WTC...
Sept. 11 Revisited: The Future of the Industry
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
A Year Later, Industry Takes Stock of Itself
Sep 2 2002 // When the nation awoke on the morning of Tuesday, Sept. 11, little did it know that the events over the next few hours would change its lives forever. Not only were there thousands of lives lost and injured, but many more...
Munich Re Creates a Stir With Reserves Announcement
Aug 5 2002 // Munich Re, the world’s largest reinsurer, announced several measures to strengthen its reserves in order to anticipate possible additional claims related to the WTC attacks, and to bolster the capitalization of its...
Munich Re Creates a Stir With Reserves Announcement
Jul 22 2002 // Munich Re, the world’s largest reinsurer, announced several measures to strengthen its reserves in order to anticipate possible additional claims related to the WTC attacks, and to bolster the capitalization of its...
Munich Re Strengthens Reserves, Confirms Positive Outlook
Jul 12 2002 // Munich Re, the world’s largest reinsurer, announced several measures to strengthen its reserves in order to anticipate possible additional claims related to the WTC attacks, and to bolster the capitalization of its...
S&P, A.M. Best, Stock Markets React to Munich Re Announcement
Jul 12 2002 // The reaction to Munich Re’s announcement that it would strengthen reserves at American Re and for the WTC attacks by a total of $2.5 billion (See IJ Website July 11) had a decidedly unsettling effect. Standard &...
Deutsche Bank Sells Remaining Stake in Munich Re
Jun 19 2002 // Germany’s Deutsche Bank (DB) placed its remaining 7.6 million shares in Munich Re for sale on the Frankfurt Stock Exchange Tuesday at € 213-215 ($201 -$203) slightly higher than anticipated. The sale is expected...
Munich Re Forms MACM in Restructuring of ART Units
May 29 2002 // Munich Re Forms MACM in Restructuring of ART Units
