Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Rios Resigns as CEO of American Modern Insurance
Aug 6 2015 // Citing personal reasons, Manny Rios has resigned as president and CEO of specialty insurer American Modern, effective immediately, the insurer announced today. Tony Kuczinski, president and CEO of Munich Reinsurance...
Munich Re Q2 Net Income Rises to $1.14 Billion on Lower Catastrophe Claims
Aug 6 2015 // Munich Re, the world’s biggest reinsurer, raised its full-year profit target after net income beat analyst estimates on lower catastrophe claims. The shares rose. Net income rose to 1.07 billion euros [$1.14 billion]...
Munich Re Launches Inland Flood Insurance Product for U.S. Homeowners
Aug 6 2015 // Munich Reinsurance America, Inc. has launched a new personal lines inland flood insurance product designed to provide more options for homeowners in low-to-moderate-hazard flood zones. According to the National Flood...
Global Insured Cat Losses in First Half Are Below Long-Term Average: Munich Re
Jul 14 2015 // Overall losses and insured losses from natural catastrophes during the first half of 2015 were below long-term average values, according to a review of global natural catastrophes issued by Munich Re. Total natural...
Munich Re’s ERGO May Cancel Purchase of Greek Insurer on Instability
Jul 10 2015 // Munich Re’s ERGO Insurance unit may cancel its planned 90.1 million euro ($100 million) acquisition of Greece’s ATE Insurance SA if the country doesn’t return to stability. “Depending upon how the...
HSB Engineering Insurance Appoints Wright as Chief Operating Officer
Jun 12 2015 // Specialist engineering and construction insurer HSB Engineering Insurance (HSB), part of Munich Re, has appointed Andy Wright as chief operating officer. Wright will be leading HSB’s operational strategy with primary...
Munich Re Confirms Riess as Future ERGO Chairman, Board Member
Jun 10 2015 // The Supervisory Board of ERGO Versicherungsgruppe AG has appointed Markus Riess to the ERGO Board of Management and also as its Chairman. Moreover, Munich Re’s Supervisory Board has also appointed Riess as a member...
HSB Launches Enhanced Farm Equipment, Machinery Breakdown Coverage
May 8 2015 // The Hartford Steam Boiler Inspection and Insurance Co. (HSB), part of Munich Re, has launched a new farm equipment and machinery breakdown coverage with expanded insurance for mobile implements and the precision...
Munich Re Posts Q1 2015 $896 Million Profit; Lower Operating Results
May 7 2015 // Munich Re announced that it realized a profit of €790 million [$896 million] for the first quarter of 2015, compared to €941 million [$1.067 billion] in Q1 2014. Despite the lower figure, Munich Re said it is...
Ruoff Appointed Chief Executive Officer of Tokio Millennium Re
Apr 2 2015 // Stephan Ruoff has been appointed chief executive officer of Tokio Millennium Re AG (TMR), a Zurich-based subsidiary of Tokio Marine & Nichido Fire Insurance Co. Ltd. Ruoff has worked with TMR, a global multi-line...
Nat Cat Risks Aggravated by Persistent Extreme Weather Conditions: Munich Re
Mar 13 2015 // Munich Re has published a report, which notes that “over the past years, persistent extreme weather conditions have triggered severe natural catastrophes and caused losses in the billion range.” In addition the...
Munich Re Continues Buying Back Shares Amid Falling Profit
Mar 11 2015 // Munich Re, the world’s biggest reinsurer, will continue buying back shares as declining prices and lower investment income undermine earnings. Munich Re plans to repurchase an additional €1 billion ($1.056 billion)...
Munich Re Raises Dividend Even After 4th Quarter Profit Declines 42%
Feb 5 2015 // Munich Re, the world’s biggest reinsurer, plans to raise its dividend even after fourth-quarter profit declined 42 percent on investments and goodwill impairments. Net income fell to about 700 million euros ($794...
HSB Introduces Technology Equipment Breakdown Coverage
Jan 22 2015 // The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has launched HSB TechAdvantage, an equipment breakdown and technology insurance that covers losses resulting from microelectronic...
Munich Re’s 2014 Nat Cat Review Highlights Low Loss Levels
Jan 7 2015 // Munich Re’s review of losses caused by natural catastrophes in 2014 confirms that it was indeed another benign year for the re/insurance industry. “The absence of very severe catastrophes and a quiet hurricane...
A.M. Best Affirms Ratings of Munich Re and Subsidiaries
Nov 14 2014 // A.M. Best has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company (Munich Re) (Germany) and its subsidiaries. Concurrently,...
Munich Re Profit Misses Estimates as Investment Income Falls
Nov 6 2014 // Munich Re, the world’s biggest reinsurer, posted third-quarter profit that missed analyst estimates as low interest rates eroded returns from its fixed- income investments. Net income rose 16 percent from the...
Swiss Re, Munich Re Wade Into Dutch Flood Insurance
Sep 16 2014 // The world’s biggest reinsurers, pushed by rising competition in existing markets, are preparing to insure against Dutch floods, a peril that centuries of experience have warned most in the Netherlands against. Swiss...
How Cybercriminals Attack Small Businesses – and 10 Ways to Stop Them
Sep 15 2014 // At a recent “Hacker Lab” event, “white hat” hackers revealed how cybercriminals work — and what businesses can do to protect themselves. The multimedia presentation used a simulated small business...
XL Group, Munich Re, New Energy Risk Provide Insurance for Fuel Cell Project
Sep 12 2014 // XL Group’s Complex Accounts unit, Munich Re’s Green Tech Solutions team, and consultants New Energy Risk (NER), have teamed up to deliver a performance insurance policy for a portfolio of fuel cell servers...
