Munich Re
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
Munich Re study predicts greater storm activity in Asia
A study by Munich Re and the German Aerospace Centre predicts we are coming up to the end of a 10-year cycle which will bring greater storm activity in east and south east Asia.
Ergo launches modular home contents policy
Munich-Re owned Ergo Insurance has launched a new home contents policy for the German market.
Reinsurers back Zurich quake bond
Munich Re and Swiss Re have acted as joint lead structuring agents in a $270m (£166m) catastrophe bond transaction that transfers North American earthquake risk to the capital markets, on behalf of Zurich Insurance Group.
US nat cats push global insured losses above 10-year average
Munich Re has called for greater loss prevention measures to be taken in the US, which saw 90% of worldwide insured losses in 2012.
Munich Re invests in French onshore wind farms
Munich Re has invested in 32 French wind farms via its asset manager MEAG.
Munich Re reinsurers guarantees for Chinese PV manufacturer
Munich Re has taken the step of reinsuring the performance guarantees that Chinese photovoltaic manufacturer Yingli Green Energy gives to its customers for multicrystalline modules.
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.