The official start of the 2023 Atlantic hurricane season kicked off June 1, and is forecast to be a busy one, which is why homeowners need to prepare.
Tag: Munich Re
Zurich Insurance Follows Munich Re in Leaving Climate Alliance
Zurich Insurance Group announced its withdrawal from the Net Zero Insurance Alliance (NZIA) on Wednesday
Gallagher Re Pegs 2022’s Insured Nat Cat Losses at $140B
Reinsurance broker Gallagher Re has published its view of 2022’s global natural catastrophe activity and it estimates insured losses from these events aggregate to a cost of $140 billion for the industry.
Climate Change and La Niña Drove Losses of $120B in 2022: Munich Re
With overall losses of around $270bn (previous year $320bn) and insured losses of roughly $120bn (previous year $120bn), 2022 joins the recent run of years with high losses.
Munich Re Expands with New Global Specialty Insurance Division
Munich Re has established a new Global Specialty Insurance (GSI) division.
Munich Re CEO Kuczinski to Retire
Munich Reinsurance America, Inc. today announced the retirement of Anthony J. Kuczinski as Chief Executive Officer of Munich Re US P&C Companies.
Munich Re Announces Stricter Policies for Investing In and Underwriting Oil and Gas Sector
The world’s largest reinsurer, Munich Re, announced stricter policies for investing in and underwriting oil and gas projects on Thursday, drawing praise from environmentalists. According to the German reinsurer’s website, as of April 2023, it will not invest in or insure projects involving new oil and gas fields or new midstream oil infrastructure. Insurers have… Continue reading Munich Re Announces Stricter Policies for Investing In and Underwriting Oil and Gas Sector
Global Reinsurers See Inflation, Russia-Ukraine War Driving Higher Rates
Top reinsurers said at the industry’s annual meeting in Monte Carlo that global geopolitical tensions, high inflation, and climate change have increased demand for risk protection and will result in higher premiums. Reinsurers insure insurers and have raised premiums in recent years in response to higher losses. “On top of the effects of COVID-19 and… Continue reading Global Reinsurers See Inflation, Russia-Ukraine War Driving Higher Rates
Coalition Completes Acquisition of Insurance Carrier with Licenses in All 50 States
Coalition, the world’s first Active Insurance provider focused on preventing digital risk before it occurs, announced today that it has received regulatory approval and completed the acquisition of Digital Affect Insurance Company from Munich Re Digital Partners US Holding Corporation. Digital Affect Insurance Company is an all-state property and casualty insurer. Coalition will be able… Continue reading Coalition Completes Acquisition of Insurance Carrier with Licenses in All 50 States
Natural Disasters in First Half 2022 Cost $65 Billion: Munich Re
In the first half of 2022, natural disasters caused overall losses of $65 billion, with slightly more than half of these insured Extreme multi-day rainfall and severe flooding in Australia constituted the main loss burden for the insurance industry of at least US$ 3.7 billion U.S. once again country with highest weather-related losses Number of… Continue reading Natural Disasters in First Half 2022 Cost $65 Billion: Munich Re