Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re Weighs Whether to Set Long-Term Profit Target of $3.3 Billion: Source
Jan 23 2020 // Munich Re is considering whether to set itself a long-term net income target of 3 billion euros ($3.3 billion) a year as the company seeks to match levels it regularly achieved until 2015. The reinsurer may announce such a...
New York Governor Lays out Aggressive Climate Change Plan
Jan 9 2020 // New York Gov. Andrew Cuomo is proposing an aggressive climate change-fighting campaign for his state that includes a $3-billion bond act that would be put on the ballot this November. Cuomo, who says that money would go to...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re
Jan 8 2020 // Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the average of the past 30 years, according to Munich Re’s catastrophe...
Munich Re Group Agrees to Buy Manhattan Skyscraper
Dec 20 2019 // Munich Re Group, advised by MEAG, has agreed to acquire the 330 Madison Avenue building in New York City. The 39 story high-rise dates from 1963 and was designed by Ely Jacques Kahn, one of the fathers of the New York City...
Munich Re’s Libman Joins Liberty Mutual’s Shared Economy/New Mobility Team
Nov 21 2019 // Liberty Mutual Insurance has appointed Max Libman as lead underwriting consultant for its national Sharing Economy & New Mobility unit. The dedicated Sharing Economy & New Mobility practice was launched earlier...
Munich Re’s Assennata Joins North Carolina-Based IAT Insurance Group
Nov 4 2019 // IAT Insurance Group, a provider of specialty property and casualty products, has added Steve Assennata to the company to serve as chief underwriting officer (CUO) of its Programs unit. The company is based in Raleigh,...
Reinsurers Look at Cyber’s Massive Growth Possibilities-With Caution
Oct 22 2019 // Reinsurers are aware they must constantly invent new solutions in order to stay relevant for their clients. Yet, they admit they are sometimes challenged to close the protection gap for new and emerging risks such as...
Munich Re America Taps AXA XL’s Herrera for New Diversity and Inclusion Post
Oct 18 2019 // Munich Reinsurance America has appointed Juan Herrera as its first full-time head of Diversity and Inclusion. Herrera will oversee all diversity and inclusion efforts across the North American region including Munich...
Private Flood Insurance Growth Could be Boon for Claims Professionals
Oct 16 2019 // A nudge into the market by carriers offering private flood insurance is becoming more of a shove, which might bring new opportunities for claims adjusters and maybe create a more efficient claims process along the way. An...
Insurtech FRISS and Munich Re Extend Partnership to Support Insurers Fighting Fraud
Oct 8 2019 // FRISS, the insurtech provider of AI-powered anti-fraud solutions for the P&C insurance industry, has extended its partnership with Munich Re to now support insurers in their fight against fraud. Following their...
Munich Re Backs Small Business Insurtech Next Insurance with $250 Million
Oct 7 2019 // Insurtech Next Insurance has pulled in a $250 million financing round from a single investor: Munich Re. Palo Alto-based Next said it plans to use the Series C cash infusion to scale up its small business insurance...
HSB to Offer Leak, Freeze Damage Sensor for Small Businesses
Oct 3 2019 // HSB, part of Munich Re, has introduced a cellular IoT sensor product designed to help smaller businesses and organizations prevent property damage. The device leverages IoT-specific cellular networks and connects to the...
Lloyd’s Reveals Blueprint to Build ‘Most Advanced Insurance Marketplace’
Sep 30 2019 // Lloyd’s of London has unveiled a blueprint for action to facilitate its Future at Lloyd’s project, which aims to “build the most advanced insurance marketplace in the world.” This first blueprint,...
Munich Re Syndicate Labuan Promotes Ng to General Manager and Principle Officer
Sep 27 2019 // James Ng has been promoted to general manager and principle officer for Munich Re Syndicate Labuan Ltd. (MRSLab). Based in Kuala Lumpur, Malaysia, Ng will have overall responsibilities for the Labuan operations and its...
Travelers Gives Agents Aerial Property Damage Viewer to Expedite Disaster Claims
Sep 24 2019 // Property/casualty insurer Travelers is now providing its insurance agents and brokers with before-and-after photos of areas affected by disasters. The Travelers Catastrophe Map Viewer provides access to searchable,...
AXA Liabilities Managers Buys Non-Life Legacy Portfolio of Munich Re Malaysia
Sep 20 2019 // AXA Liabilities Managers announced it has completed the acquisition of the non-life legacy portfolio of Munich Re Malaysia (a branch of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in Munich). The...
AIG Names Munich Re’s Olsen as General Insurance Unit’s Chief Actuary
Aug 16 2019 // American International Group announced that Richard Olsen will join the company as chief actuary, General Insurance, effective immediately. Olsen will lead the General Insurance global actuarial organization, with...
New Hurricane Response Tools from Munich Re Aim to Improve Claims Experience
Aug 7 2019 // Munich Re has launched a new suite of hurricane response tools designed to help insurance companies assess widespread property damage after a hurricane and improve their customers’ claims experience. Developed by...
Munich Re Reports 36% Rise in Q2 Net Profit on Lower Claims from Major Losses
Aug 7 2019 // German reinsurer Munich Re on Wednesday reported a 36% rise in net profit in the second quarter, helped by low claims from major losses, and stuck to its forecast for 2019. Net profit was 993 million euros ($1.11 billion),...
Norway Insurer Protector Expects Q2 Loss After Grenfell Fire Ruling with Munich Re
Jul 10 2019 // Shares in Protector Forsikring fell 12% on Wednesday after the Norwegian insurer warned about a second-quarter loss, partly because it had lost an arbitration case related to the 2017 Grenfell Tower fire in London. It said...
