”Uncertainties caused by inflation, potential impacts from geopolitical risks, deglobalisation and dynamic risks such as climate change and cyber risks are some examples as to why the market environment remains complex" says Thomas Blunck, Member…
"Adequate pricing is a prerequisite for us to offer the best possible reinsurance capacity. As we want to grow with our clients and help closing protection gaps, we will also put an emphasis on innovation in order to allow our clients to transfer…
"All areas of our operation are contributing to our success. Munich Re continues to grow profitably because our clients value our strength, consistency and expertise," says chair of the Board of Management, Joachim Wenning.
"A selective underwriting approach remains the order of the day for us, in part because experience shows that the more eventful months of the year are still ahead of us. This prudence is exactly what sets us apart as a financially strong and…
"I am privileged to have had the opportunity to work alongside Denis. He leaves us an extraordinary legacy. It is now up to us to carry on his work. The strong foundations on which he rebuilt the Group enable us to look to the future with total…
“I have decided to entrust François de Varenne with new and important responsibilities within the Executive Committee. François has successfully led the Group on an interim basis over the past three months," says Thierry Léger, Chief Executive…
Christoph Jurecka, Munich Re Group CFO said: ”The earthquake that hit Turkey on the border with Syria in February 2023 was one of the most catastrophic we have seen in recent history. Around 60,000 people lost their lives. The insured losses…
“SCOR has generated excellent results in Q1 2023. The Group is taking full advantage of the current favorable environment. Our new CEO, Thierry Léger, is in charge of drawing up a new three-year strategic plan under IFRS 17. This plan will define…
"With the result for the first three months we have achieved more than a quarter of the full-year guidance of at least €1.7bn and are thus very much on course," said Jean-Jacques Henchoz, Chief Executive Officer of Hannover Re.
"Despite losses attributable to the war in Ukraine, ongoing inflation, and high market losses due to natural disasters, Munich Re exceeded its profit target of €3.3bn by €100m for the 2022 financial year. What really paid off here was portfolio…
“The transition to IFRS 17 will allow SCOR to disclose the full value of its portfolio, particularly in L&H reinsurance, through the introduction of the Contractual Service Margin (CSM). Together with the shareholders equity, this constitutes…
“In our view, the opportunities to pursue decarbonisation goals in a collective approach among insurers worldwide without exposing ourselves to material antitrust risks are so limited that it is more effective to pursue our climate ambition…
“The re/insurance sector has a key role to play in boosting resilience against such events. However, insurance is no substitute for constant investment in good planning and adaptation measures to mitigate risks, says Priyen Mehta, Head P&C Southern…
"The most apparent effects that have been deeply analysed and commented on are for the hull war insurers and the cargo war insurers facing potential claims for the hulls and cargoes caught in the war," says Frédéric Denèfle, IUMI President &…
Insurance Biz is a New Africa Busines News Services (NABNS) publication launched in 2013 to focus on the insurance industry, investments, financial planning, employee benefits etc. It remains a great resource of news for industry professionals, and for those who seek to learn about the financial sector developments.
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