Munich Re said in a recent report it expects the global cyber insurance market to reach about $16.3 billion gross premiums in 2025, with continued growth that will have the market at more than $32 billion in 2023. In “Cyber …
Reinsurance renewal rates continued dropping during this year’s January renewals, but US property/catastrophe reinsurance pricing is likely to stabilize during the coming midyear renewals, according to a report from Moody’s Ratings. “The upcoming midyear 2025 reinsurance renewals, which focus on …
Germany’s Munich Re expects about 1.2 billion euros ($1.26 billion) in claims resulting from the Los Angeles wildfires, it said on Wednesday, representing the biggest loss reported so far by a single European reinsurer for the January catastrophe. The wildfires …
Smartwatches and other wearable technologies have the potential to change the pricing of life insurance policies by offering better data about individuals’ mortality risk, according to a new report by reinsurance company Munich Re and analytics firm Klarity. The study …
Insurers saw the third most expensive year for natural catastrophe losses in 2024 – reaching a total of US$140 billion – as climate change “is showing its claws,” according to Munich Re. Overall economic losses from natural disasters worldwide reached …
Munich Re is aiming for an IFRS net profit of €6 billion (US$6.3 billion) in 2025 as a result of “consistently good operational performance in all business segments.” It also expects good underwriting profitability with a combined ratio of 79% …
Munich Re Specialty announced it is entering the Spanish commercial market for primary specialty insurance, with an aim to begin underwriting in 2025. It has set up a Spanish branch of Munich Re Risk Solutions Ireland Ltd., which holds regulatory …
Munich Re has put its high-net worth managing general agent, GrovesJohnWestrup Private Clients. “A recent strategic review of our businesses led to the difficult decision that GrovesJohnWestrup Private Clients closed for business on 2 October 2024,” according to a Munich …
Munich Re tops the list of the world’s 50 largest reinsurers that use IFRS 17 reporting standards, while Swiss Re is the largest non-IFRS 17 reinsurer, according to AM Best. Among the largest IFRS 17 reporting reinsurers, Munich Re is …
Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment …
