All the headlines from our Munich Re Topic Page, ordered by recency.
Mar 2 2021 // Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies...
Feb 25 2021 // Munich Re reported a profit of €1.21 billion (US1.47 billion) for 2020, a 55% decline from the €2.71 billion (US$3.29 billion) reported for the previous year.The reinsurer’s Q4 2020 profit dropped to €212...
Feb 23 2021 // 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...
Feb 18 2021 // HSB, part of Munich Re, has created a new workplace violence insurance coverage for small to mid-size businesses, providing counseling, crisis communications, lost business income and security services to help companies...
Jan 12 2021 // Steven Levy, the longtime president and CEO of Munich Re US, plans to retire on April 1. Munich Re executive Marcus Winter will replace him, the company disclosed.Levy has worked for Munich Re US for 23 years, holding a...
Jan 7 2021 // Natural catastrophes around the world resulted in $210 billion in damage in 2020, with the United States especially hard hit by hurricanes and wildfires, a top insurer said on Thursday.The damage, tallied by the German...
Dec 8 2020 // German reinsurance group Munich Re will no longer insure against events canceled due to pandemics, a board member said on Tuesday.The world’s largest resinsurer is making the change after it faced large losses this...
Nov 19 2020 // HSB Canada, part of Munich Re, has introduced “Sensor Systems by HSB,” a turnkey solution to help insureds reduce common property claims. The program monitors, predicts and alerts customers to risk events...
Nov 16 2020 // HSB is expanding its engineering services to deliver consultancy services that enable businesses to improve efficiency and meet their compliance obligations.Using the technical knowledge and expertise of its engineers,...
Nov 13 2020 // EQ One, a West Coast earthquake insurance underwriter, has added additional capacity to its earthquake offering through Munich Re Specialty Insurance.This increased capacity will allow EQ One team to write larger...
Nov 12 2020 // November 12, 2020 – Garden City, NY – Wright Specialty Insurance, which provides a comprehensive suite of property and casualty insurance coverage and services for educational institutions nationwide, has expanded...
Oct 21 2020 // Munich Re reports approximately €800 million (US$935 million) in COVID-19-related losses in reinsurance during the third quarter. The losses were attributable to various business lines, such as insurance for major events...
Oct 14 2020 // The TRUMPF Group and Munich Re Group are entering into a strategic partnership for a “pay-per-part” business model, which enables customers to use a full-service laser machine without having to buy or lease any...
Oct 12 2020 // Munich Re Specialty Insurance has launched a lawyers professional liability (LPL) insurance product, an errors and omissions policy specially designed for mid-size law firms.The LPL policy provides up to $5 million in...
Sep 30 2020 // Reinsurers and insurers for years have been worried about systemic risks – those uninsurable risks with the potential of surpassing the capital of the industry. The COVID-19 crisis has renewed attention on these risks,...
Sep 28 2020 // New Reinsurance Co. Ltd., a wholly owned subsidiary of Munich Re, announced that its board of directors appointed Dr. Thomas Braune as its new chief executive officer. Braune will assume his new role on Oct. 1, 2020,...
Sep 21 2020 // Even before the coronavirus crisis hit, the reinsurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re.Such price...
Sep 18 2020 // Speaking at one of the many virtual conferences that took place in early September, Dan Malloy, chief executive officer of Bermuda-based Third Point Reinsurance, offered an anecdotal view of the reinsurance market from a...
Sep 11 2020 // Munich Re has stopped selling coverage to protect against business losses in future pandemics after the German reinsurer took a 1.5 billion-euro ($1.8 billion) virus-related hit in the first half.“We are currently...
Sep 9 2020 // Even before the coronavirus crisis hit, the re/insurance industry was in a period of significant rate hardening, which will likely continue over the next two years, or even longer, according to Munich Re.Such price...