Munich Re
-
The carrier is consolidating its venture capital activity into asset manager MEAG. -
Economic volatility, including from tariffs and rising interest rates, is reshaping risk profiles for specialty insurers.
-
The insurer has been under review with positive implications since March.
-
As the fires spread, the priority shifted from saving structures to saving lives.
-
Insured losses produced the second highest first-half tally since records began in 1980.
-
The executive has been with the company for roughly one year.
-
The executive was previously president of insurance programs.
-
It is understood that Marsh brokered the tower, which is exposed to claims from a 2024 breach.
-
There is a long waiting list of carriers looking to pull the IPO trigger, but market conditions remain tough.
-
It makes sense for Next to secure a sale as an exit strategy in an increasingly challenging funding environment.
-
The executive has managed both casualty and personal lines reinsurance books.
-
Ahead of the deal, Ergo owned a 29% stake in Next, which generated top line of $548mn last year.
-
Delegated underwriters are seeing an opportunity to write in the PVT market as an add-on to property coverage.
-
The carrier will look to expand business outside North America.
-
Hurricane Milton resulted in the largest insured loss of the year at $25bn.
-
Maria Long joins the cyber insurer from Munich Re as the company's deputy CUO.
-
The carrier attributed the intensification of storms this season to climate change.
-
The executive joins Munich Re from Amwins Global Risks.
-
Over 75% of insured losses attributable to severe thunderstorms, flooding and forest fires.
-
Munich Re’s capacity is backing insurance programs for municipalities, fire and emergency services as well as water facilities.
-
The executive was formerly AIG’s head of casualty claims.
-
Analysis of 2023 statutory data shows that Californian insurers are leaning more heavily on reinsurers but at a nationwide level, premium cessions were more stable.
-
He replaces Joe Bonanno following a realignment of the E&S property leadership.
-
Current CEO John Mulvihill is retiring after 34 years with the specialty insurer.
-
Munich Re Specialty Insurance (MRSI) has promoted Jeffrey Marks to COO, effective immediately.
-
The uptake on war exclusions, which was followed by other reinsurers, could signal the end of "endless" discussions on the topic.
-
In addition to price, E&S insurers need to pay close attention to terms and conditions, as well as quality of risk.
-
Hohman succeeds Elizabeth Kramer following her recent appointment as president of E&S Lines. He will also become a member of the MRSI executive leadership team.
-
AM Best said market hardening was likely to continue through 2024, given global market conditions.
-
Liz King Kramer will be responsible for executing the sector’s business plan and driving growth.
-
A memo from the reinsurer raises concerns for cyber insurers over whether they could face a coverage gap after renewals.
-
Analysis of 2022 statutory data shows top US-exposed reinsurers grew assumed premiums 13% year-on-year in 2022.
-
Beneva has signed up to net-zero targets as a member of the NZIA, following a period of turbulence in which Munich Re, Zurich and Hannover Re have left the alliance.
-
She has served as interim CEO since January, after former CEO Michael Kerner was appointed as a board member.
-
Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.
-
Inside P&C’s morning summary of the key stories to get you up to speed fast.
