Munich Re

MRSI names Marks as COO on permanent basis

Munich Re Specialty Insurance (MRSI) has appointed Jeffrey Marks as chief operating officer, a role he had been serving in on an interim basis.

Munich Re’s Rauch: Non-peak perils “on the way” to becoming peak perils

Although the volume of insured losses from natural catastrophe events was not particularly outstanding in 2023, it carried lessons for the (re)insurance industry because of the difference in the composition of losses, according to Munich Re’s Ernst Rauch.

Mid-sized events account for ~60% of $95bn nat cat losses in 2023: Munich Re

Natural catastrophe losses cost insurers approximately $95bn in 2023, down 24 percent year on year but above the 10-year average of $90bn, as the severity and frequency of mid-sized events continues to prove costly for the industry, according to Munich Re.

Munich Re names Johnson NA programs head as Monahan appointed Digital Partners lead

Munich Re Specialty Insurance has broadened Kevin Johnson’s role with the executive now holding the title of head of North American insurance programs, a position which gives him oversight for the company’s programs in the US and Canada along with its tech-focused Digital Partners platform.

Munich Re targets €5bn net profit in 2024

Munich Re has targeted a net profit of €5bn in 2024 with an expected P&C reinsurance combined ratio of 82 percent.

Munich Re to double underlying earnings to over €7bn in 2023: Jefferies

Munich Re is on track to more than double its underlying earnings from the €3.4bn achieved last year to over €7bn in 2023, according to Jefferies.

MRSI launches excess accountants’ professional liability solution

Munich Re Specialty Insurance has introduced an excess accountants’ professional liability solution to help protect accounting businesses from the unique risks in the financial services industry.

Munich Re: Hurricane Otis likely to reach $30mn major loss threshold

Hurricane Otis is likely to qualify as a major loss for Munich Re, according to CFO Christoph Jurecka, although he warned it was too early to assess the reinsurer’s likely bill from the storm.

Munich Re improves FY combined ratio guidance to 85% after major losses fall in Q3

Munich Re’s P&C Reinsurance unit reported a profit of €644mn for the third quarter, with its combined ratio improving by almost 7 percentage points to 82 percent for the three-month period.

Munich Re’s Winter: Flight to quality in property and casualty amid structural shift in market

There will be a flight to quality for reinsurance buyers and sellers at 1.1 across both property and casualty, with structural change in the cat market shifting the supply curve and a focus in casualty on quality of cedant rather than cutting ceding commission alone, according to Munich Re’s Marcus Winter.

Eckl: Asia is one of Munich Re’s largest growth areas

Munich Re’s Asia Pacific CEO Roland Eckl has underlined the reinsurer’s commitment to Asia’s catastrophe markets ahead of the 1.1 renewals but has reiterated that pricing must adequately reflect the risk.

Munich Re to report €1.2bn profit in Q3, raises FY guidance to €4.5bn

Munich Re has preannounced a preliminary net profit of €1.2bn ($1.3bn) for the third quarter, citing “consistently good” operational performance in all business segments.

Munich Re unveils pandemic insurance and risk financing solution

Munich Re has launched a pandemic insurance and risk financing solution in partnership with International SOS to help organisations future-proof their pandemic response.

Munich Re: More orderly 1.1 ahead despite increasing nat cat losses and cyber accumulation potential

The upcoming reinsurance renewals on 1 January 2024 will be more orderly than the prior year, as the market now has a greater understanding of loss burdens owing to weather-related events and inflationary impacts, according to Munich Re’s Clarisse Kopff.

A fresh approach: uncovering new ways to attract and retain young talent

Few among us are likely to have grown up dreaming about working in insurance. But for many, insurance or risk management is a fulfilling career choice: challenging, rewarding and lucrative, and typically allowing for a positive work-life balance. Fortunately, word is getting out about the benefits a future in insurance or risk management can hold.

Zywave panel: Cyber reinsurers to increase focus on tail risk at 1.1

Cyber reinsurers will increasingly focus on tail risk at the upcoming renewals amid growing privacy claims, while war exclusions will remain a hot topic and loss ratio caps are not going away, speakers at a Zywave conference have suggested.

KBW picks Munich Re and Lancashire as preferred European stocks

KBW has highlighted Munich Re and Lancashire as among its top European picks in the run-up to the 1.1 renewals, with RenaissanceRe, Everest Group and Arch Capital its preferred stocks in the US.

The power of inclusion

Ahead of this year’s Dive In Festival, Munich Re’s global head of diversity, equity and inclusion Sarah Boddey explores the power of inclusion in driving a positive and profitable (re)insurance sector.

MRSI promotes Hohman to CUO

Munich Re Specialty Insurance has promoted Greg Hohman – who joined the carrier from Zurich at the start of 2022 – to chief underwriting officer, taking the role vacated by Liz Kramer when she became president of excess and surplus lines.

Munich Re, Scor and Hannover Re join Swiss Re in raising SRCC concerns

The increasingly volatile global risk environment has been a major topic of discussions during this year’s Rendez-Vous in Monte Carlo, with concerns over losses from strikes, riots and civil commotion a consistent theme identified across the big four European reinsurers’ briefings.

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