Munich Re News

Cyber Reinsurers Aim to Master the Dangers of Global Accumulation

Cyber insurance is a market with enormous growth potential – but one that also has the potential to become a costly, worldwide event in a matter of seconds. Unlike natural catastrophes, cyber isn’t limited to geographic regions. It’s a risk …

Munich Re Acquires Tech Firm Relayr, an Industrial Internet of Things Specialist

Munich Re announced it is taking a further key step to create new business models in industrial Internet of Things (IoT) through the acquisition of the software company “relayr” via Munich Re’s subsidiary, Hartford Steam Boiler (HSB). Valued at US$300 …

Embroker Launches Direct-to-Customer Online D&O Policy for Startups

Embroker, a digital commercial insurance brokerage, has launched a fully digital directors and officers (D&O) insurance policy, specifically designed for venture capital (VC) backed tech startups. The D&O policy is part of Embroker’s new digital Startup Program, which also includes …

Munich Re to Stop Investing in Coal-Related Business, Insuring New Coal-Fired Plants

Munich Re, the world’s biggest reinsurer, will stop investing in bonds and shares of companies that generate more than 30 percent of their sales with coal-related business, its chief executive said, caving to pressure from investors. “In the individual risk …

Munich Re CFO Schneider to Retire, Succeeded by ERGO’s Jurecka

Munich Re’s Chief Financial Officer Jörg Schneider, who turns 60 this year, will retire from the Munich Re board of management at his own request on Dec. 31, 2018. The Supervisory Board of Munich Re has appointed Christoph Jurecka as …

U.S. Sanctions Likely to Ban Use of Lloyd’s IT Platform for Processing Iran Insurance

New U.S. sanctions are likely to prevent the use of a Lloyd’s of London IT platform for any Iran insurance, adding to difficulties for European insurers providing cover for the country. European insurers, reinsurers, brokers and shipping firms have been …

Partnering with Insurtech to Transform Rather Than Disrupt Insurance

The insurance industry is experiencing a convergence with technology that is transforming the way it develops products, underwrites, prices and sells policies, and services its customers. This change can seem disruptive, so it’s critical that insurance companies better understand how …

Guggenheim Exploring Deal with Munich Re’s Asset Management Unit

Guggenheim Partners is exploring the sale of a stake in its $250 billion asset-management unit overseen by Scott Minerd, according to people familiar with the matter. Guggenheim Partners Investment Management has been in talks with global insurers, sovereign wealth funds …

New Marsh Coverage Protects Businesses From Pandemic Losses

Marsh has launched a new insurance product to provide financial protection to US-based businesses and their global operations affected by an infectious disease outbreak. PathogenRX, developed by Marsh in collaboration with Munich Re, and epidemic risk modeler Metabiota, is a …

Munich Re Not Looking But Would Welcome Investor: CEO Wenning

Munich Re would welcome a long-term investor taking a significant stake in the company as the world’s largest reinsurer eyes a return to profit growth this year, its CEO told Reuters. Joachim Wenning’s comments come as Japan’s SoftBank is in …