Latest Munich Re Headlines
All the headlines from our Munich Re Topic Page, ordered by recency.
A Teutonic Call For ‘Unconditional Rethinking’ onPolitical Risk
Dec 3 2001 // The ramifications of the Sept.11 terrorist attacks on the insurance industry are becoming more and more apparent. While the attacks are portrayed as the worst ever on U.S.soil, the repercussions continue to affect numerous...
Munich Re Posts $1 Billion 3Q Loss, Comments on Terrorism Coverage
Nov 30 2001 // Munich Re, the world’s largest reinsurer, suffered a commensurately large loss in the 3rd quarter of €1.2 billion ($1.05 billion) after tax. In addition to the estimated €2.1 billion ($1.85 billion) losses...
Munich Re Repeats Call for Risk Reassessment; Will Strengthen U.S Subsidiaries
Nov 15 2001 // Dr. Hans-Jürgen Schinzler, Chairman of Munich Re’s Board of Management, repeated his concerns about the industry and the affects of another aviation tragedy in New York so soon after September 11. “The...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 29 2001 // If the nautical term best applied to the reinsurance industry last year this time would have been “Steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve qui...
Munich Re Calls for Fundamental Reorientation on Terrorist Risks
Oct 19 2001 // Munich Re has just released a preliminary study of the attack on the World Trade Center which contains not only a detailed analysis of what led to the collapse of the twin towers, but also states that “the private...
Best Affirms Ratings for Munich Re, Royal and Sun
Oct 8 2001 // A.M. Best Co. has affirmed the A++ ( Superior) and the A+ (Superior) financial strength ratings for Munich Re and Royal & Sun Alliance Group following its review in the aftermath of the terrorist attacks on the...
Will Reinsurance Rebound from Terrorist Strikes in the U.S.’
Oct 8 2001 // If the nautical term best applied to the reinsurance industry last year at this time would have been “steady as she goes,” after the catastrophe that struck the U.S. on Sept. 11, the French term “sauve...
Insurance Stocks Suffer Following Disaster
Sep 24 2001 // The disasters had an immediate and devastating effect on international trading. Reuters reported that the DJ Stoxx insurance index reportedly fell to a three-year low, following a 13 percent drop the previous day. In...
Swiss Re, Munich Re Raise Catastrophe Loss Estimates
Sep 21 2001 // The world’s two largest reinsurance companies, Swiss Re and Munich Re, have practically doubled their estimates of potential losses and have lowered their earnings forecasts as a result of the terrorist attacks in...
Munich Re Net Up, Insures World Cup
Aug 31 2001 // Munich Re followed its announcement that its net profit for the 1st half of the year almost doubled to $1.18 billion with the announcement that it had structured an innovative event cancellation policy for the 2002 Soccer...
S&P Affirms Munich Reinsurance Rating
Aug 7 2001 // Standard & Poor’s has affirmed its “AAA” long-term counterparty credit and insurer financial strength ratings on leading global reinsurer, Munich Reinsurance Co. (MRC) and all core reinsurance...
Munich Re Posts 9% Q1 Premium Growth to $3.7 Billion
May 30 2001 // Munich Re, the world’s largest reinsurer, reported that premium income for the the first quarter reached €4.3 billion ($3.7 billion), a solid 9 percent increase over last year’s figures. N et profits...
Allianz Makes Deal to Purchase Dresdner Bank for $20.5 Billion
Apr 9 2001 // After a week of intensive negotiations, Allianz AG and Dresdner Bank, Germany’s third largest, announced on April 1 that they have agreed to join forces to create Germany’s biggest financial institution. With...
Munich Re Affirmed
Apr 9 2001 // The “AAA” counterparty credit rating and insurer FSR on Munich Reinsurance Co. AG were affirmed by S&P. The rating action includes all core reinsurance members, which together comprise the Munich...
Allianz, Munich Re Near Agreement on Bank Takeover, Share Swap
Mar 29 2001 // The German banking and insurance sector, like a volcano that has long been threatening to erupt, may finally explode this weekend. Two of the world’s largest insurance groups, Allianz AG and Munich Re are reportedly...
Hartford Steam Boiler Launches International Coverage
Mar 14 2001 // It didn’t take long for HSB to start expanding internationally once it became part of AIG. Tuesday the company announced the introduction of “a new international insurance product called HSB OneSource.”...
The Global Picture: Debate Over Climate Change Continues to Storm
Feb 12 2001 // Experts agree that the world’s climate is changing, but the debate continues about the causes and consequences. Multiple interactive factors are involved. The oceans warm and cool, the sun goes through an 11-year...
Best Affirms Munich Re Group
Jan 15 2001 // The “A++” FSR of Munich Reinsurance Co. was affirmed by A.M. Best. The rating action also applies to the company’s core reinsurance subsidiaries, including American Re-Insurance Company and its...
Munich Re Survey Shows Natural Disasters Increase – Less Losses
Dec 29 2000 // Munich Re has released a survey of the natural disasters which occurred in the year 2000, citing over 850 worldwide catastrophes, 100 more than last year, but finds that the economic consequences were less, as many of them...
HSB Upgraded
Dec 25 2000 // Following the completion of AIG’s acquisition of HSB Group Inc., the FSR on HSB Engineering Insurance Ltd. was upgraded from “AA” to “AAA” by Fitch. Also upgraded and removed from Rating Watch...
