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Munich Re CFO Says Q4 Could Be Very Damages-Heavy, Still Early To Give Forecast
Munich Re Executive Hoepke Says We Expect Stable Prices In Europe
Munich Re Sees To Beat Its 2019 Target For Consolidated Result
Muenchener Rueckversicherungs Gesellschaft AG in Muenchen is a Germany-based company engaged in reinsurance and insurance business. The Company divides its operations into reinsurance, primary insurance, and Munich Health and Asset management. The Reinsurance business comprises five divisions: Life; Europe and Latin America; Germany, Asia Pacific and Africa; Special and Financial Risks, and Global Clients and North America. The business covers a range of products from traditional reinsurance products to solutions for risk assumption. The Company's primary insurance activities are combined into the ERGO Insurance Group (ERGO), which offers direct insurance, life, property-casualty, health, legal expenses and travel insurance products. It covers the Company's international health reinsurance business and health primary insurance outside Germany and engages the risk management services. The Asset management business handles the investment activities of Munich Re and ERGO.
Nikolaus von Bomhard
Independent Chairman of the Supervisory Board
Chairman of the Management Board, Chief Executive Officer
Independent Deputy Chairman of the Supervisory Board, Employee Representative
Chief Financial Officer, Member of the Management Board
Chief Investment Officer, Member of the Management Board
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* Expects to beat full-year target despite costly storms (Updates with details)
Munich Re on Thursday confirmed that it would beat its full-year profit target in 2019 after a strong third quarter.
Ergo, the retail insurance unit of Munich Re, has struck a partnership with Great Wall Motor and will start selling insurances to car owners in China, both companies announced on Monday.
German reinsurer Munich Re on Friday said it expected to beat its full-year profit target in 2019 after a strong third quarter.
Next Insurance, a provider of digital insurance products to small U.S. businesses, said on Monday it raised $250 million in funding from German reinsurer Munich Re <MUVGn.DE>.
Munich Re <MUVGn.DE> is planning a job cuts at its headquarters and in the United States, according to an interview with the chief executive published on the company's intranet.
* Sees 2018 profit of 2.0-2.4 bln euros vs poll 2.6 blnJan renewals up 0.8 pct vs 0.5 pct decline year earlier
Munich Re posted a preliminary 8 percent rise in net profit in the fourth quarter but only eked out a small profit for the full year 2017 after a series of natural disasters in North America, the German reinsurer said on Tuesday.
* IAG IMPROVES CAPITAL EFFICIENCY AND REDUCES EARNINGS VOLATILITY
German reinsurer Munich Re aims to stabilise its annual net profit at "2 billion euros plus" for the next few years as low interest rates and price pressure hold back growth, its Chief Executive Joachim Wenning said.
* Clearance from watchdog Bafin seen a challenge (Adds details on valuation)
Munich Re's <MUVGn.DE> Ergo unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low, it said late Tuesday.
* ERGO ENDS DISCUSSIONS CONCERNING SALE OF ITS GERMAN LIFE INSURANCE COMPANIES WITH TRADITIONAL LIFE INSURANCE PORTFOLIOS
Nikolaus von Bomhard, former CEO of Munich Re, will become supervisory board chairman at Deutsche Post, German monthly Manager Magazin reported, citing company sources.
* CFO sees worldwide "positive development" in reinsurance rates, which will be reflected in future profit
* Munich Re posts large Q3 loss as natural catastrophes weigh
* Sees 2017 reinsurance combined ratio of around 112 percent versus year-earlier 97 percent, according to presentation slides
German reinsurance giant Munich Re posted a net loss of 1.4 billion euros ($1.62 billion) in the third quarter after a spate of major costly natural catastrophes in North America.
German reinsurer Munich Re's Ergo unit has received non-binding bids for its traditional life insurance business, which have ceased underwriting new contracts, it said on Wednesday.
Munich Re's primary insurance arm Ergo is forging ahead with plans to sell the life insurance books of units Ergo Leben and Victoria Leben, Handelsblatt daily reported on Monday, citing two people familiar with the matter.
Quote and financial data from Refinitiv. Fund performance data provided by Lipper. All quotes delayed a minimum of 15 minutes.