Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Update: Munich Re Counters Negative Interest Rates by Boosting Cash Reserves
Mar 17 2016 // German reinsurer Munich Re is boosting its cash reserves in the face of the punishing negative interest rates from the European Central Bank, it said on Wednesday. The world’s largest reinsurer is far from alone in...
Munich Re Expects Profit Drop in 2016 on Soft Market, Low Interest Rates
Mar 16 2016 // Munich Re, the world’s second-biggest reinsurer, expects profit to decline this year as falling prices for its products and low interest rates weigh on investment earnings. The company plans to repurchase 1 billion...
Munich Re Names Wenning as CEO to Succeed von Bomhard in April 2017
Mar 15 2016 // Munich Re, the world’s second-biggest reinsurer, named Joachim Wenning to succeed Chief Executive Officer Nikolaus von Bomhard as the industry struggles to maintain earnings amid low interest rates and falling...
Clermont Specialty Managers to Offer Cyber Coverage Through HSB
Mar 14 2016 // Clermont Specialty Managers, a W.R. Berkley company, is now offering data compromise and Cyber One coverages for their customers through Hartford Steam Boiler, a Munich RE company. The program provides protection for data...
Munich Re’s Vasturia to Serve as IICF Chairman
Mar 4 2016 // The Insurance Industry Charitable Foundation (IICF) has named John Vasturia, president of Specialty Markets for Munich Reinsurance America Inc., as chairman for IICF’s board of governors. Vasturia has been a member...
Ohio-Based American Modern Insurance Taps Kleiner for CEO
Mar 1 2016 // Andreas Kleiner has been named president and chief executive officer of American Modern Insurance Group, a subsidiary of Munich Re, effective May 1. He succeeds Manny Rios, who left the position in August. Kleiner has...
Hartford Steam Boiler Launches Cyber Product for Mid-Size Companies
Feb 5 2016 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has introduced HSB Total Cyber, a stand-alone insurance product that offers mid-size companies direct coverage for multiple types of data and...
Munich Re Reports Q4 Profit Remains Level at 700M Euros; Dividend Hike Ahead
Feb 4 2016 // Munich Re, the world’s second-biggest reinsurer, plans to increase its dividend more than expected after fourth-quarter profit remained unchanged from a year earlier. The company plans to raise the dividend to 8.25...
Munich Re Raises Shareholding in India’s Apollo Munich Health Insurance
Jan 26 2016 // Munich Re will acquire an additional 23.27 percent of shares of Apollo Munich Health Insurance Co. Ltd., from its joint venture partner, the Apollo Hospitals Group, India, increasing its shareholding from 25.5 percent to...
El Niño Helped Reduce Natural Catastrophe Losses in 2015: Munich Re
Jan 4 2016 // Insurers paid out around $27 billion for natural disaster claims last year with weather causing 94 percent of incidents, underscoring the challenge posed by climate change, data from reinsurer Munich Re showed on...
Buffett’s Berkshire Hathaway Cuts Munich Re Stake to 4.6%
Dec 14 2015 // Warren Buffett’s Berkshire Hathaway Inc. further reduced its stake in Munich Re as the billionaire investor re-evaluates the attractiveness of the reinsurance market. The holding was trimmed to 4.6 percent from 9.7...
HSB Engineering Insurance Launches Cyber Insurance Cover for UK SMEs
Nov 13 2015 // HSB Engineering Insurance has launched a new cyber insurance product aimed directly at small to medium-sized businesses in the U.K. In response to the growing demand for insurance solutions to cover cyber risks,...
Munich Re Q3 Profit Declines 29% on Investment Earnings
Nov 5 2015 // Munich Re, the world’s biggest reinsurer, said third-quarter profit slumped 29 percent on a decline in earnings from investments. Net income declined to 520 million euros [$567.8 million] in the three months through...
Best Affirms Munich Re and Subs Ratings; Outlook Stable
Oct 23 2015 // A.M. Best has affirmed the financial strength rating of ‘A+’ (Superior) and the issuer credit ratings of “aa-” of Munich Reinsurance Company and its subsidiaries. Best has also affirmed the...
Munich Re Working with Clients to Develop Solutions for ‘Digitalization’
Oct 21 2015 // A bulletin from Munich Re notes that the “risk landscape for insurers and their clients is changing faster than ever before, especially in terms of technologies, services, sales channels and demand patterns.”...
Update: Buffett Cuts Munich Re Shareholding, Responds to Reinsurance Slump
Sep 29 2015 // Warren Buffett’s Berkshire Hathaway Inc. has cut its stake in Munich Re after lamenting a slump in the reinsurance business. Berkshire’s holding was lowered to 9.7 percent from about 12 percent, Munich Re said...
Munich Re, Marsh Introduce Pharma Coverage for Regulatory Actions
Sep 25 2015 // Munich Re and Marsh & McLennan Cos., the largest insurance broker by market value, introduced a product to insure U.S. pharmaceutical companies against regulatory actions that could cause them to suspend...
Marsh, Munich Re Launch Non-Damage Business Interruption Coverage for Life Sciences
Sep 23 2015 // Marsh and Munich Re have launched non-damage business interruption insurance (NDBI) product that combines risk transfer and consulting services to assist life sciences companies in managing the impact of regulatory actions...
Reinsurers Seek New Markets, Underinsured Risks to Ease Price Pressures
Sep 14 2015 // Major reinsurers like Munich Re, Swiss Re, Hannover Re are looking to new markets and selling more cover to existing clients to ease price pressures after several years of falls, they said at their annual meeting in Monte...
HSB Expands Equipment Breakdown, Tech Insurance for ‘Invisible’ Risks
Sep 9 2015 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB) is expanding the availability of HSB TechAdvantage, an equipment breakdown insurance that covers undetectable physical damage to microelectronics, by offering...