Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
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
Munich Re Reports Strong Q1 Gains
May 28 2002 // In a statement released Monday, Munich Re, the world’s largest reinsurer, reported across the board gains for the first quarter with operating profits reaching £700 million ($645.5 million). The giant insurer...
Munich Re May Enter Fondiaria Fray
Apr 17 2002 // Munich Re has held discussions with Italian insurer SAI, which has been trying to engineer a merger with La Fondiaria Assuicurazioni that would create Italy’s second largest p/c company. Problems have arisen,...
Munich Re Announces Provisional 2001 Results, Profits Fall by $1.33 Billion
Mar 25 2002 // Munich Re announced provisional results for the year 2001, which confirmed that even the world’s largest reinsurer wasn’t immune to the huge losses caused by Sept. 11. Munich’s net profit is expected to...
Munich Re Reviews 2001, Warns on Meteorites, Climate Change
Mar 15 2002 // Munich Re, the world’s largest reinsurer, has just published an analysis of last year’s loss events, which includes a discussion of “underestimated loss potentials,” notably risks from a sudden...
Munich Re, Allianz Complete Share Sales
Jan 21 2002 // Munich Re and Allianz AG have completed the sales of their respective investments in several subsidiary insurance and financial groups first announced last April. Munich Re stated that, “it now holds 25.7% of the...
