Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
Rating Agencies Positive on ACE, Aon, Munich Re Deal for Combined, Sterling
Dec 18 2007 // The rating agencies have generally been positive about ACE’s acquisition of Aon’s Combined Life Insurance Company and Munich Re’s purchase of Sterling Life. The specific reactions were as follows: A.M....
Aon Sells Combined to ACE for $2.4 Billion; Sterling to Munich Re
Dec 17 2007 // Bermuda-based ACE Limited and Germany’s Munich Re have both signed deals with Aon to purchase part of the international broker’s insurance activities. ACE is buying accident and health provider Combined...
Munich Re to Acquire Aon’s Healthcare Insurer Sterling for $352 Million
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
Ratings Recap: Temple, Munich Re, ERGO, Ecclesiastical, Ansvar, Unipol, Paris Re
Dec 14 2007 // A.M. Best Co. has assigned an issuer credit rating (ICR) of “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Canada’s Temple Insurance Company; has revised its...
ERGO Acquires 65% Stake in Korea’s Daum Direct Auto
Dec 10 2007 // German insurer ERGO, Munich Re’s primary insurance subsidiary, announced that it has reached an agreement with Daum Communications and LIG Insurance to purchase a 65 percent stake in the South Korean monoline insurer...
Ratings Recap: AXA Corporate Solutions (US), First Marine, Magna
Dec 7 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘B++’ (Good) and the issuer credit ratings (ICR) of “bbb” of AXA Corporate Solutions Reinsurance Company (AXA CS Re) and its...
People
Nov 18 2007 // Munich Reinsurance America Inc. announced that John P. Phelan will retire as planned on Dec. 31, 2007, after serving nearly six years as chairman and CEO. Anthony J. Kuczinski, who is president of Munich Re America’s...
Munich Re’s 9-Month Profit Jumps 17.5% to $4.84 Billion
Nov 5 2007 // Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which...
Business Moves
Nov 4 2007 // AmWINS, London American General AmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc. Based in San Diego, Calif., London American is...
Munich Re’s ERGO in Joint Venture with Indian Insurer HDFC Ltd.
Nov 2 2007 // In a joint statement Indian housing finance pioneer HDFC Ltd. and Germany’s ERGO (Munich Re’s primary insurance division) announced that they have agreed to form a general insurance joint venture. The...
Munich Re’s ‘Geo Data Service’ Analyzes Nat Cat Impact
Oct 30 2007 // An announcement from Munich Re notes that there “has been a steady rise in weather-related natural catastrophes during recent decades, and this also applies to Europe.” As a result the reinsurer has developed...
Munich Re Acquires UK’s MSP Underwriting/Stake in Syndicate 318
Oct 30 2007 // Munich Re is acquiring the UK Company MSP Underwriting Ltd. for a figure it said is in the “mid double-digit million Euro range.” MSP Underwriting Ltd. owns both the Lloyd’s managing agency Beaufort...
Best Announces Rating Actions on Munich Re/Midland Acquisition
Oct 19 2007 // A.M. Best Co. has commented that the financial strength rating (FSR) of ‘A+’ (Superior) and the issuer credit ratings (ICR) of “aa-” of Germany’s Munich Re Group and the FSR of ‘A’...
Munich Re to Acquire Midland Co.
Oct 17 2007 // It didn’t take Munich Re very long to make good on its intentions to expand in then U.S. P/C market (See IJ web site Oct. 9). The world’s second largest reinsurer announced today that it has “concluded an...
Munich Re Changes Model in Push for More U.S. P/C Business
Oct 10 2007 // Munich Re announced a new long-term “profitable growth strategy” aimed at increasing its share of both direct and broker reinsurance, as well as primary insurance, in the U.S. P/C market. The Group writes more...
Oct 8 2007 // People The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins...
Munich Re Centralizes London Units
Sep 21 2007 // The Munich Re Group has moved three of its London market P/C core business units to one location at Plantation Place in Fenchurch Street. The goal is to “to maximize broker and client access to its insurance and...
Best Affirms Munich Re ‘A+’ Ratings; Outlook Raised to Stable
Sep 10 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of “A+” (Superior) and the issuer credit rating (ICR) of “aa-” of Germany’s Munich Reinsurance Company and its rated...
People and Places
Aug 6 2007 // The Property Casualty Insurers Association of America has named Deputy Secretary of Commerce David A. Sampson to serve as the association’s president and chief executive officer. Sampson takes over the reins on Sept....
