All the headlines from our Munich Re Topic Page, ordered by recency.
May 8 2008 // The Munich Re Group recorded a profit of €785 million ($1.2 billion) for the first quarter of 2008, down 19 percent from the €974 million ($1.495 billion) in the same period of 2007. The Group’s Operating result,...
Feb 25 2008 // The Munich Re Group announced consolidated profits for 2007 of €3.937 billion ($5.836 billion), surpassing its increased profit guidance of €3.5 to €3.8 billion ($5.18 to $5.63 billion) announced in August. The...
Feb 21 2008 // Munich Re announced the establishment of a bond program amounting to $1.5 billion for the transfer of extreme mortality risk to the capital markets. The placement marks the first time that Munich Re has set up a cat bond...
Feb 7 2008 // Munich Re announced that, following the opening of the Brazilian reinsurance market (See IJ web site – https://www.insurancejournal.com/news/international/2007/12/27/85928.htm), it plans to establish a subsidiary in...
Feb 4 2008 // A.M. Best Co. has assigned an issuer credit rating (ICR) of “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Madison Wis.-based CUNA Mutual Insurance Society, the lead...
Jan 30 2008 // The Munich Re Group announced that it expects a record profit for 2007 of €3.9 billion ($5.77 billion) on the basis of preliminary figures. The amount exceeds the profit guidance of €3.5-3.8 billion ($5.18 to $5.62...
Jan 16 2008 // Germany’s Allianz SE announced that it is set to further reduce its stake in Munich Re by redeeming the “remaining part of 35.65 percent of the BITES bond issued in February 2005 with Munich Re shares at the...
Dec 28 2007 // Munich Re’s loss figures for 2007 from natural catastrophes concludes that “despite the general absence of extreme events, overall economic losses had reached $75 billion by the end of December – an...
Dec 18 2007 // The rating agencies have generally been positive about ACE’s acquisition of Aon’s Combined Life Insurance Company and Munich Re’s purchase of Sterling Life. The specific reactions were as follows:A.M....
Dec 17 2007 // Bermuda-based ACE Limited and Germany’s Munich Re have both signed deals with Aon to purchase part of the international broker’s insurance activities. ACE is buying accident and health provider Combined...
Dec 17 2007 // Munich Re is also buying a slightly smaller piece of Aon (See previous article). The world’s second largest reinsurer announced that it has concluded an agreement with Aon to acquire 100 percent of Sterling Life...
Dec 14 2007 // A.M. Best Co. has assigned an issuer credit rating (ICR) of “a+” and affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Canada’s Temple Insurance Company; has revised its...
Dec 10 2007 // German insurer ERGO, Munich Re’s primary insurance subsidiary, announced that it has reached an agreement with Daum Communications and LIG Insurance to purchase a 65 percent stake in the South Korean monoline insurer...
Dec 7 2007 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘B++’ (Good) and the issuer credit ratings (ICR) of “bbb” of AXA Corporate Solutions Reinsurance Company (AXA CS Re) and its...
Nov 18 2007 // Munich Reinsurance America Inc. announced that John P. Phelan will retire as planned on Dec. 31, 2007, after serving nearly six years as chairman and CEO. Anthony J. Kuczinski, who is president of Munich Re America’s...
Nov 5 2007 // Maybe money can’t buy happiness, but it can certainly improve the bottom line. Munich Re has just announced a €3.348 billion ($4.843 billion) profit for the first nine months of 2007, a 17.5 percent increase, which...
Nov 4 2007 // AmWINS, London American GeneralAmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc. Based in San Diego, Calif., London American is a...
Nov 2 2007 // In a joint statement Indian housing finance pioneer HDFC Ltd. and Germany’s ERGO (Munich Re’s primary insurance division) announced that they have agreed to form a general insurance joint venture.The...
Oct 30 2007 // An announcement from Munich Re notes that there “has been a steady rise in weather-related natural catastrophes during recent decades, and this also applies to Europe.” As a result the reinsurer has developed...
Oct 30 2007 // Munich Re is acquiring the UK Company MSP Underwriting Ltd. for a figure it said is in the “mid double-digit million Euro range.” MSP Underwriting Ltd. owns both the Lloyd’s managing agency Beaufort...