Munich Re
Munich Re suffers multi-million euro loss in ship disaster
Munich Re expects its share of claims from the stricken cruise ship Costa Concordia to be in the mid double-digit million euro range.
Munich Re launches green energy risk cover
Reinsurer Munich Re has launched a new insurance product which covers the risk borne by operators that solar module output may, in the course of time, fall below the level guaranteed by a manufacturer which can no longer be held liable under its…
Portugal, Spain and Turkey lead the way in European banassurance
Banks are most important distributors of insurance in Portugal, Spain and Turkey, according to recent research.
Skuld enters into Transmarine partnership
Norwegian marine insurer Skuld has formed a partnership with Transmarine, part of the Michael and Else and Company MGA operation specialising in marine trade disruption and consequential loss insurance.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
More M&A expected in Thailand after reinsurers review flood losses
Heavy losses from Thailand’s recent floods are dampening the appetite of global reinsurers to write business in the region.
Nat-cats make 2011 the costliest year ever
A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses, Munich Re’s annual natural catastrophe review has found.
Munich Re: 2011 was worst year ever
Munich Re has said the sequence of earthquakes and large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses racking up $380bn of global economic losses.
Guest blog: Market cycles, cost of reinsurance and the Middle East
In the course of the year, concerns over the rising cost of regulation with impending Solvency II have been heard, even by Ferma’s Peter Von Dekker, as a cost that is ultimately likely to be absorbed by consumers.
Munich Re puts €500m on Thai floods
Munich Re has estimated that the Thai floods will cost it €500m net before tax, but warned the figure could be higher.
Munich Re receives funding from German ministry for climate change initiative
Munich Re has teamed up with the Caribbean Catastrophe Risk Insurance Facility and specialist microinsurance broker Micro Ensure to develop insurance solutions developing countries vulnerable to climate change.
Marine - Post-IUMI: High seas scrutiny
The recent International Union of Marine Insurance conference underlined the escalating piracy problem and tasked underwriters with delivering a cargo-specific solution.
News analysis: Admiral’s claims woes worsen as quarter three results revealed
Admiral’s market followers suffered a painful dose of déjà vu last week when the motor insurer’s quarter three results underscored its rising exposure to large bodily injury claims, and it warned full year pre-tax profits would be lower than expected.
Admiral share price rests on analyst presentation
Admiral’s analyst presentation this afternoon could see its share price rise if it “hits the market with new stuff” or plummet further if it fails, experts have warned.
'Difficult environment' hits Munich Re’s Q3 profits
Munich Re has reported an 88% reduction in operating profits for the third quarter, down to €402m from €3.4bn year on year.
Profits nosedive at Munich Re
Munich Re announced its third quarter operating profit was down 88% to €402m (2010: €3.4bn) and its consolidated profit was down 96% to €80m (2010: €2bn).
Munich Re launches $100m cat bond
Munich Re has a $100m catastrophe bond to cover US hurricane and European windstorm risks.
Munich Re receives A+ (superior) rating
Munich Re has had its financial strength rating affirmed of A+ (Superior) and issuer credit ratings of “aa-” along with its subsidiaries.
Top 100 UK insurers supplement: Steadying the ship
After a tough 2009, the top insurers have managed to maintain GWP levels in 2010 but snapping at their heels are a few new entrants doing their best to prove there is still money to be made in general insurance.
Eastern European markets key to Austrian insurers' prospects
Prospects for Austrian insurers are closely linked to insurance markets in Central Eastern and Southern Eastern Europe, where more than one-third of their premium income originates, according to a new report.
The growing interest in renewable energy
The renewable energy market is gaining in popularity across Europe and insurers seem keen to be at the forefront of the sector. Anne-Louise Fogtmann explores whether the market insurers have enough knowledge of new technology in this sector and what they…
Munich Re's losses slow in second quarter
Munich Re posted a consolidated loss of €210m for the first half of 2011, compared with a profit of €1194m in the same period last year.
Munich Re's losses slow in second quarter
Munich Re posted a consolidated loss of €210m for the first half of 2011, compared with a profit of €1194m in the same period last year.
Munich Re transfers European windstorm risks to capital markets
Munich Re has acquired coverage for European windstorm risks with volume of $150m from Queen Street III Capital, which in turn has placed a catastrophe bond for this amount on the capital markets.