Munich Re to Stop Selling Pandemic Business Coverage September 11, 2020 By Stephan Kahl Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a...
Munich Re Expects Beirut Losses of €100 Million; Sees Slowdown in COVID-19 Losses September 8, 2020 By Stephan Kahl Munich Re said it faces claims of at least 100 million euros ($118 million) stemming from the deadly explosion that...
Major Reinsurers Brace for Large Losses from Beirut Port Blast August 13, 2020 By Verity Ratcliffe and Stephan Kahl Some of the world’s biggest reinsurers are bracing for potential losses running into tens of millions of euros after last...
Allianz Withdraws 2020 Profit Target on Pandemic Uncertainties May 1, 2020 By Stephan Kahl and Richard Weiss Allianz SE withdrew its forecast for the year as Europe’s biggest insurer struggles with the fallout from the Covid-19 pandemic....
Coronavirus Will Cause ‘Massive’ Losses Across Insurance Industry, Says Allianz CEO April 17, 2020 By Stephan Kahl, Matthew Miller and Anna Edwards Allianz SE Chief Executive Officer Oliver Baete warned the coronavirus has upended insurers’ business models and will cause “massive” losses...
Allianz-Backed Fintech Startup, N26, Closes UK Mobile Bank Accounts, Blaming Brexit February 12, 2020 By Sarah Syed and Stephan Kahl N26 GmbH, the German mobile bank backed by billionaires Peter Thiel and Li Ka-Shing, said it will end UK operations...
Munich Re Weighs Whether to Set Long-Term Profit Target of $3.3 Billion: Source January 23, 2020 By Stephan Kahl Munich Re is considering whether to set itself a long-term net income target of 3 billion euros ($3.3 billion) a...