Munich Re

Munich Re | October 15, 2018

London-based MSP Underwriting Limited will no longer be a Munich Re subsidiary, as the global specialty underwriter finds itself sold to US insurer Cincinnati Financial Corporation. Based on MSP Underwriting’s projected net asset value at closing, the Ohio-headquartered firm has agreed to acquire the Munich Re unit for £102 million (around US$133 million) in cash. The property and aviation underwriter operates through Beaufort Underwriting Agency Limited, which underwrites for Lloyd&...

Munich Re | May 29, 2018

The rate of growth of the global re/insurance industry is set to overtake the global economy in 2018 and 2019, with average annual premium growth forecast at 5.3%, compared with global GDP growth of 4.9%, according to Munich Re’s latest Insurance Market Outlook. Munich Re reported that life insurance is set to recover after a weak 2017, with the projected annual premium growth of 5.6%, while property and casualty (P&C) will continue to benefit from a favorable economic environment, wit...

Munich Reinsurance Co | March 01, 2019

Italian insurer UnipolSai Assicurazioni SpA has completed a €45 million ($51.2 million) catastrophe bond protecting it against a range of severe weather risks in Italy, Willis Towers Watson PLC said Friday. Atmos Re DAC was structured and placed by the securities arm of Willis Re, the reinsurance division of Willis Towers Watson, with Munich Reinsurance Co. as co-manager, the brokerage said in a statement....

Insurance Business Magazine | January 16, 2020

Insurance start-up battleface, which provides travel insurance for unconventional travelers worldwide, has announced that it has successfully closed a seed funding round with backing from strategic and venture capital investors. Fintech Ventures Fund has invested in battleface, joining Greenlight Re and Tangiers Group. The investment will be used to expand software development, hire sales and business-development personnel, and expand battleface’s global reach, the company said. “We ...