Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Munich Re: Sandy Tops 2012 Disasters
Jan 14 2013 // A series of severe weather-related catastrophes led to higher-than-normal losses in the United States last year. The world’s largest reinsurer Munich Re took a close look at these catastrophes in its “2012...
Munich Re 2012 Cat Report Underscores Extreme Weather in U.S.; Sandy Losses
Jan 3 2013 // The figures for natural catastrophse that occurred in 2012 are “dominated by weather extremes in the USA,” according to a report from Munich Re. The reinsurers said the U.S. “accounted for a higher...
Munich Re Announces Pischetsrieder to Replace Schinzler as Board Chairman
Dec 13 2012 // Munich Re announced that the Chairman of its Supervisory Board, Hans-Jürgen Schinzler, will retire from office on age grounds, as of the 31st of December 2012. “He will be succeeded as Chairman by Bernd...
Munich Re in Performance Guarantee Deal with China’s Yingli Green Energy
Dec 12 2012 // Munich Re said it is “reinsuring performance guarantees that Chinese photovoltaic manufacturer Yingli Green Energy gives to its customers for multi-crystalline modules. The insurance solution covers the long-term...
Munich Re First to Offer Offshore Wind Energy Serial Loss Coverage
Dec 4 2012 // Munich Re announced that it has “become the first insurance group to offer serial loss cover for offshore wind energy units. Corresponding cover for a North Sea wind farm has been signed by Marcus A. Wassenberg,...
Best Affirms Munich Re and Subs ‘A+’ Ratings; Outlook Stable
Dec 3 2012 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all...
Munich Re Study Focuses on Rising ‘Cyber Crime’
Nov 29 2012 // “Cyber attacks are a reality and companies need to prepare themselves,” warns Munich Re in a recently released study – “Cost of Cyber Crime” – conducted by the Ponemon Institute....
Munich Re Raises 2012 Profit Forecast on Stronger 9-Month Results
Nov 7 2012 // Munich Re said it expects a higher consolidated result for 2012 than previously envisaged. Following a profit of €2.7 billion [$3.47 billion] for the first nine months of 2012 (same period last year: €80 million...
Hartford Steam Boiler Launches Energy Saving Tool for Homeowners Policies
Oct 18 2012 // The Hartford Steam Boiler Inspection and Insurance Company (HSB), part of Munich Re, has introduced a new concept in homeowners insurance, HSB HomeWorks, which combines breakdown coverage for home equipment systems,...
Munich Re Reports Q2 Profit over $1 Billion; 1st Half near $2 Billion
Aug 7 2012 // Munich Re’s second quarter earnings report notes that it achieved a consolidated profit of €812 million [$1.007 billion], compared to the €738 million [$915.12 million] it reported in Q2 2011. The report...
Cancelling London Olympics Would Cost over $4.9 Billion: Munich Re
Jul 16 2012 // Cancelling the London Olympics due, for example, to a security threat would result in damages of more than €4 billion ($4.9 billion), Andrew Duxbury, underwriting manager at Munich Re, told a German...
6 Month Insured Losses at $12 Billion; Nat Cats Less Costly: Munich Re
Jul 13 2012 // Natural catastrophe losses were “relatively moderate” in the first six months of 2012, concludes Munich Re’s assessment for the first six months of the year. Overall global losses up to the end of June...
Re/insurers Join Efforts to Support UN’s Principles for Sustainable Insurance
Jun 25 2012 // A number of insurers and reinsurers have agreed to join the UN-backed set of Principles for Sustainable Insurance. The initiative aims to provide insurance tools for risk management in support of environmental, social and...
Ratings Recap: Arab Misr, L’Union Canadienne, Gulf Insurance, Island Heritage, Eastern Re
Jun 19 2012 // A.M. Best Europe – Rating Services Limited has downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating (FSR) of ‘B++’ (Good) of...
Microinsurance in Rapid Expansion Says ILO, Munich Re Report
Apr 10 2012 // According to the Microinsurance Innovation Facility of the International Labor Organization and the Munich Re Foundation, “the number of microinsurance schemes worldwide has increased substantially over the past five...
Ratings Recap: Solid, Jevco, Argus Group, Munich Re (bonds)
Apr 2 2012 // A.M. Best Europe – Rating Services Limited has upgraded the financial strength rating to ‘B++’ (Good) from B+ (Good) and the issuer credit rating to “bbb” from “bbb-” for...
HSB to Offer Equipment Breakdown, Data Breach Product
Mar 22 2012 // The Hartford Steam Boiler Inspection and Insurance Company (HSB), a part of Munich Re, has launched HSB Freestyle Advantage, an insurance product that combines equipment breakdown coverage with optional data compromise and...
Ratings Recap – Notes, Pref. Shares: Swiss Re, Fairfax, AXIS, Munich Re
Mar 22 2012 // A.M. Best Co. has assigned a debt rating of “a+” to the recently issued CHF 320 million [$350 million] 7.25 percent perpetual subordinated notes with a stock settlement issued by Swiss Reinsurance Company Ltd.,...
Munich Re Confirms 2011 Profit at $937 Mn; Forecasts $3.3 Bn in 2012
Mar 13 2012 // Munich Re’s official results largely confirm earlier estimates, made at the beginning of February. The world’s largest reinsurer, however, hopes to do a good deal better in 2012 than it did last year....
