Munich Re Syndicate News

15 Insurers Stop Doing Business with Nord Stream 2 Pipeline to Avoid Sanctions: Reuters

Baker Hughes Co and AXA Group and 16 other companies recently quit work on Russia’s Nord Stream 2 natural gas pipeline and will not be sanctioned, according to a document the Biden administration sent to Congress last week which was …

Munich Re Stops Insuring Nord Stream 2 Pipeline on Fears of U.S. Sanctions

A subsidiary of Germany’s Munich Re will no longer insure the Nord Stream 2 pipeline from Russia to Europe amid the fear of sanctions by the U.S. government. The U.S. has been threatening sanctions against European companies that support construction …

Munich Re Syndicate Taps McAdams from AXA XL as Head of Marine

Rob McAdams will be joining the Munich Re Syndicate as head of Marine. Based in London, he will oversee the global syndicate’s marine portfolio and help drive the underwriting business across cargo, fine art & specie, hull, yacht, and war, …

Parametric Insurance Could Offer Hotels Relief from Coronavirus Cancellations

Organizers of events called off because of the coronavirus are likely to miss out on insurance payouts because typical policies do not cover epidemic outbreaks. Hotels hit by cancellations may fare better. That is because a new type of insurance …

The Unique Requirements of a Lloyd’s Syndicate-in-a-Box

Lloyd’s developed the concept of a syndicate-in-a-box (SiaB) to make it easier for innovative capital to enter the market, but there are certain requirements and differences compared to traditional syndicates. The first company to announce the launch of an SiaB …

Lloyd’s 1st Syndicate-in-a-Box, Operated by Munich Re, Aims to Be an Innovation Lab

Lloyd’s of London is expecting big things for 2020 as it rolls out the key initiatives for its massive modernization project designed make it easier to do business with Lloyd’s and, ultimately, reduce the cost base of the market. One …

Munich Re Syndicate Singapore Partners with Lloyd’s Coverholder Nectar Specialty Risk

Munich Re Syndicate Singapore (MRSS) has formed a partnership with Nectar Specialty Risk Pte Ltd. (Nectar), a Singapore incorporated limited liability company and Lloyd’s coverholder that provides tailor-made re/insurance solutions. Nectar’s professional line products are offered under the trading name …

Munich Re Syndicate’s Hoare Elected to Council of Lloyd’s

Dominick Hoare, chief underwriting officer for Munich Re Syndicate Ltd., was elected this week to the position of corporate-external member to the Council of Lloyd’s, which is the body responsible for the supervision of the Lloyd’s market. Hoare represents Munich …