Munich Re

No successor will be named and some of Kuczinski’s responsibilities will be transferred to a new board division called GSI.

Michael Kerner, who joined Munich Re in 2018, has been appointed to lead the operation.

The year 2005, which featured the devastating Hurricane Katrina, remains the most expensive storm season.

The reinsurer said it will be “significantly more challenging” to hit EUR3.3bn 2022 profit target.

The carrier will no longer invest or insure contracts and projects directly relating to new oil and gas fields, new midstream oil infrastructure and new oil-fired power plants.

US severe thunderstorms caused insured losses of $17bn during the first half.

The loss comes hard on the heels of a large BI claim stemming from the Freeport LNG refinery.

With more than 25 years of industry experience, Karen Rzeszutko will lead the inland and ocean marine underwriting teams.

Dual’s crisis management team joined from Swiss Re in July 2021.

Scor has appointed Vanessa Contreras, its deputy team leader for professional lines, to Haynes’ old role overseeing all of US casualty.

The new coverage marks the first time that sovereign debt repayments have been protected by a parametric catastrophe clause.

Everest Insurance head of specialty casualty will transition to the reinsurance division, reporting to Beggs.