Munich Re
Prostitutes invited to Munich Re-owned Ergo party
Munich Re has confirmed that one of its business units invited 20 prostitutes to a Budapest party to reward the insurer’s high- performing agents.
Prostitutes invited to Munich Re-owned Ergo party
Munich Re has confirmed that one of its business units invited 20 prostitutes to a Budapest party to reward the insurer’s high- performing agents.
Reinsurer cat budgets exhausted after Q1
Reinsurers' annual budgets have been exhausted after the major natural catastrophe losses in the first quarter were followed by 150 tornadoes hitting 13 south-eastern US states last month. According to Dominic Simpson, vice president, senior credit…
Munich Re still predicting 2011 profit despite €2.7bn Q1 nat cat hit
Munich Re posted a consolidated loss of €948m (£834m) for the first quarter of 2011 (previous year: profit of €485m).
Mapfre buys Munich Re Middlesea stake
Spanish insurer Mapfre has purchased Munich Re’s 19.9% shareholding in Maltese firm Middlesea Insurance.
Q1 nat cats not market-turning
Total industry insured large losses since the third quarter of 2010 of $32bn will not be enough to turn the reinsurance market, an analyst has warned.
European insurers call for Solvency II non-compliance fines
European insurers would like to see the European Insurance and Occupational Pensions Authority fining regulators where Solvency II is not applied equally across the European Union.
Aviva boss: earthquake will not impact GI rates
Global general insurance rates will not be dramatically affected by Japan's earthquake and tsunami, according to Aviva's chief underwriting officer.
Munich Re Japan quake exposure to reach €1.5bn
Munich Re has estimated losses of €1.5bn (£1.3bn) from the Japanese earthquake.
Jeffries: Munich Re Japan losses “modest”
Jeffries International has predicted “relatively modest” Munich Re losses from the Japan earthquake of €1bn (£869m).
Reinsurance sector braced for huge losses in Japan
The global reinsurance industry is positioned to absorb the impact of the Japanese earthquake — even if the insured losses reach $35bn (£21.7bn).
Munich Re to revisit earnings target statement
Munich Re's stated objective to earn €2.4bn (£2.1bn) in 2011 may have to be revisited following the devastating earthquake in Japan.
BI presents "wildcard" among Japanese quake losses
Major insurance and reinsurance losses both in Japan and globally following last Friday's huge earthquake in Japan will cause negative credit implications for the two sectors, according to Moodys.
Munich Re hit by £931m cat losses in 2011
Natural catastrophes in Australia and New Zealand have already cost Munich Re AUS$1.5bn (£931.1m) in 2011.
Interview – Simon Douglas: the attraction of AA Insurance
Simon Douglas, director of AA insurance, previously worked in the life & pensions and private medical markets. He talks to Mairi Macdonald about what attracted him to the debt-laden business and the challenges it faces.
MGA remains upbeat despite slow progress
Affinity Insurance Management, an appointed representative of Affinity Scheme Insurance, has disclosed a £150 867 loss in its first full-year of trading, and warned about its future viability.
Munich Re offers renewable energy insurance first
Munich Re is insuring the guarantees which builder of wind-powered plants, Fuhrländer, is giving its customers.
Munich Re unveils profit estimate for 2010
On the basis of preliminary estimates, Munich Re achieved a consolidated result of €2.43bn for 2010 (2009: €2.56bn), despite substantial major losses, it announced this morning.
Munich Re chief appointed PRI chairman
Munich Re America’s chief administrative officer Dr Wolfgang Engshuber has been elected chairman of UN-backed global investor-led initiative, the Advisory Council of Principles for Responsible Investment.
Cat bond market set for expansion
The market for catastrophe bonds grew in 2010 and will continue to expand this year, according to Munich Re.
Post Europe: Corporate risks in the Nordic regions
The Nordic region has become popular for big and small businesses alike and was recently highlight in the news as a terrorist target. Jakki May reviews how insurers have responded to this and asks what other risks firms in this region face.
Axa declared largest insurer in the world by net written premium
The world's largest insurers, measured by assets and net premiums are based in Japan and France respectively, AM Best has found in its annual ranking of global insurers.
Munich Re: 2010 sixth worst for insured losses since 1980
Several major catastrophes in 2010 resulted in substantial losses and an exceptionally high number of fatalities, according to Munich Re.
Munich Re completes $131m deal
Munich Re, through its subsidiary Munich Health North America, has successfully concluded the acquisition of US Medicare provider Windsor Health Group for US$ 131m in cash.