Munich Re

Plenum’s Franz: 1.1 has left the most attractive market conditions in a generation

The January reinsurance renewals have created the “most attractive” market conditions “in a generation” according to Rötger Franz, partner, portfolio manager and senior insurance analyst at Plenum.

Munich Re’s Haynes: Litigation funding “very worrying” for US casualty market

A big issue for the US casualty market to watch is the growth in litigation funding and the fact that only a small number of states have disclosure requirements related to it, Munich Re US casualty head Maura Haynes has warned, with the executive also citing inflation as a concern.

Swiss Re leads YTD gains among European big four following strong 1.1 and Q4 earnings beat

Swiss Re has led share price gains among the four European reinsurers so far in 2023, with the carrier trading up 10.5 percent since the start of the year.

FloodFlash extends Munich Re Syndicate capacity to US

Parametric insurtech FloodFlash has penned a US capacity agreement with Munich Re Syndicate.

Munich Re’s Wenning: Further 2023 renewals to increase share of nat cat business

Munich Re’s CEO Joachim Wenning has confirmed the group will look to write larger shares of nat cat business at 2023’s remaining renewals.

Munich Re shares dip ~5% amid “disappointing” 1.1 renewals growth

Munich Re’s shares were down ~5 percent in early trading following its earnings announcement and renewals update this morning, with KBW analyst Darius Satkauskas describing the group’s 1.1 growth as “disappointing”.

Munich Re posts Q4 P&C CR of 94.4% as profit surges 77%

Munich Re delivered a combined ratio of 94.4 percent in its P&C Reinsurance unit in the fourth quarter of 2022 – a 2.0 percentage point improvement on the prior-year period – as the consolidated result for the segment climbed to €1.15bn ($1.22bn).

Munich Re to return €2.6bn to shareholders via buybacks and dividend

Munich Re has announced plans to return €2.6bn ($2.8bn) to shareholders through buybacks and an increased dividend, in a move broadly welcomed by analysts.

Munich Re and Scor set for further share price outperformance during 2023: KBW

Munich Re and Scor are poised for further share price outperformance during 2023, according to KBW’s Darius Satkauskas, with all four European reinsurers having materially outperformed the wider sector since last August.

Munich Re’s Rauch: “Ever-increasing” cat losses impacting insurance affordability

As insured natural catastrophe losses top more than $100bn for the second consecutive year, Munich Re’s chief climate scientist Ernst Rauch has urged the global (re)insurance sector to work collectively to better understand climate science and its relationship with catastrophe risk.

Munich Re: $120bn insured cat losses in 2022

2022 was the third year in five that insured cat losses totalled more than $100bn with events such as Hurricane Ian, Australian flooding and French hail storms totalling ~$120bn, according to Munich Re.

MRSI’s Johnson: capacity picture for ’23 remains up in the air as 1.1 market settles

The late and highly uncertain property reinsurance renewal remains the dominant market theme at year-end, and according to Munich Re Specialty Insurance head of programs Kevin Johnson, property cat-writing MGAs are in a holding pattern until the market clears.

Munich Re’s Winter: Market will settle at 1.1 amid much improved underwriting environment

As discussions continue amid the most challenged 1 January property catastrophe reinsurance renewal in decades, Munich Re US president and CEO Marcus Winter is confident the market will eventually settle albeit with significant pricing improvements, cedants retaining more risk and a greater focus on the core, traditional coverage.

Judge declines Metallica event cancellation lawsuit against Lloyd’s insurers

A California judge has ruled that a group of Lloyd's of London underwriters are not liable to compensate Metallica for financial losses the American rock band said were caused by the Covid-19 pandemic after six South American shows were cancelled in April 2020.

Kuczinski to retire as CEO of Munich Re US Holding

Anthony Kuczinski will retire as CEO of Munich Re US P&C Companies and Munich Re US Holding at the end of the year, with parts of his responsibilities to be transferred to a new board of management division.

Munich Re cautious on guidance around impact of cat/ri hard market

Munich Re has remained tight-lipped around quantifying expected benefits from current hard market conditions following yesterday’s disclosure that it expects to grow consolidated profit to €4bn ($4.3bn) in 2023.

Munich Re restructures board with new Kerner-led specialty division

Munich Re has expanded its board of management with the launch of a new global specialty insurance division led by Michael Kerner.

Munich Re’s €4bn profit guidance likely reflects reinsurance pricing boost: Jefferies

Munich Re’s guidance for €4bn ($4.3bn) consolidated profit in 2023 reflects both the benefit of higher reinsurance pricing as well as the shift to IFRS 17 accounting standards, according to Jefferies analyst Philip Kett.

Munich Re targets €4bn profit for 2023

Munich Re has issued guidance for a €4bn ($4.26bn) consolidated profit in 2023 under the newly adopted IFRS17 reporting standard.

Munich Re leads reinsurance for African epidemic parametric launch

African Risk Capacity (ARC) has launched its first parametric product covering high-impact epidemic risks, with Munich Re serving as lead reinsurer for the mechanism.

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