Munich Re
Munich Re hails offshore wind first
Munich Re claims to have become the first insurer to offer serial loss cover for offshore wind energy units, providing investor security and helping renewable energy gain a foothold in the market.
Munich Re launches "milestone" offshore wind cover
German insurance giant Munich Re has become the first insurer to offer serial loss cover for offshore wind turbines.
Plumeri puts Sandy industry losses at $50bn
Outgoing Willis chairman and chief executive Joe Plumeri believes that insured losses arising from superstorm Sandy could be up to 10 times higher than the early industry estimates of $5bn (£3.15bn).
Post magazine - 8 November 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Munich Re: Sandy to drive up property insurance prices
Munich Re's reinsurance operation produced a Q3 operating result of €1.2bn (Q3 2011: €665m) and premium income of €7.5bn (Q3 2011: €6.5bn).
Munich Re estimates Sandy losses close to £400m
Munich Re has estimated its share of the losses from superstorm Sandy at the "mid three-digit million" euro range, despite the high number of individual losses making it difficult to assess the extent of the damage.
Former Ergo managers charged over sex scandal
Two former staff of Munich Re-owned primary insurer Ergo are facing charges related to a 2007 trip to Budapest, according to reports in the German media.
Munich Re Foundation report highlights 200% rise in microinsurance
A new study of African microinsurance markets, published by Making Finance Work For Africa and Munich Re Foundation, found that the number of low-income households benefiting from insurance services has grown by over 200% in three years to more than 44…
Ace hires Zotti to develop Italian consumer lines
Ace Group has recruited Renato Zotti as director of accident and health, life and travel in Italy as the firm continues to invest in consumer lines insurance propositions for the Italian market.
Insurer stocks dipped ahead of Hurricane Sandy landfall
Stocks for European insurers, including Allianz SE and Zurich Insurance Group, fell on Monday as the US prepared for Hurricane Sandy, which is expected to cause $5bn-$10bn in insured losses, according to modelling firm Eqecat.
Thailand floods: Back in business
The scale of the Thailand floods was not the only element to hamper recovery - they exposed a lack of loss mitigation and recovery knowledge in Asia.
Low interest rates and claims inflation hitting profits, warns Munich Re
The impact of persistently low interest rates on investments and the growing risk of inflation for severe bodily injury claims are cause for concern for the insurance industry, Munich Re has warned.
Risk managers urged to heed climate change
The human impact on the environment has been a major factor in a quintupling of weather-related loss events in North America during the past three decades, according to Munich Re.
Ergo to cut 600 jobs over three years
German insurer Ergo Versicherungsgruppe, a unit of reinsurer Munich Re AG, will cut 200 back-office positions every year for the next three years.
Report finds opportunities for commercially viable rural livestock cover
Technological improvements and growing demand offer hope for "commercially viable and welfare-enhancing livestock insurance", despite early failures, according to a report by the International Labour Organisation and the Munich Re Foundation.
Munich Re chief laments China's poor rate of quake cover
Nikolaus Von Bomhard has implored China to create a public-private partnership to provide earthquake protection for businesses and citizens in the country.
Munich Re considers ILS fund
Munich Re may launch a fund to allow investors to buy catastrophe bonds and other insurance linked securities to meet the growing demand for instruments linked to natural disasters.
Aspen launches computers, cyber, privacy and media risks covers
The underwriters risk management business has launched a range of new covers to protect against risks relating to computers, data and cyber-crime.
Perils AG to provide satellite-based flood footprints
Perils AG, a Zurich-based provider of European catastrophe insurance data, will make satellite-based flood footprints available during and after major flood events, as part of an initiative in collaboration with the insurance industry and the European…
Ergo at centre of further scandal over staff "rewards"
Munich Re owned primary insurer Ergo is once again courting controversy after reports that the firm paid for employees to visit a swingers' party in Jamaica and a brothel in Spain.
Low cat activity aids Munich Re recovery
Munich Re reported a group operating result of €2.3bn in the first half of the year, compared with a loss of €437m in the same period in 2011.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Sidley Austin advises Munich Re on £300m longevity risk deal
Law firm Sidley Austin has advised Munich Re on its assumption through reinsurance of £300m of longevity risk from Pension Insurance Corporation.