Munich Re

Programs an integral part of Munich Re Specialty buildout

Munich Re’s recent move to bring its global specialty operations under one brand has reinforced the company’s commitment to the sector, with the firm poised to make further investments in its programs offering as it targets greater returns and growth in the segment, Kevin Johnson has told Program Manager.

Munich Re Specialty committed to casualty even as challenges abound

Munich Re Specialty – North America retains a strong appetite to support casualty-focused programs and MGAs even as it, and the wider industry, contend with rising loss cost trends fueled in part by legal system abuse.

Munich Re Specialty targeting further growth of $1bn programs book under new hire Carnevale

Munich Re Specialty is firmly on the front foot as it looks to expand its circa $1bn book of US programs business, with new recruit Claudia Carnevale tasked with growing the platform in the burgeoning market sector.

Munich Re Specialty’s high-net-worth MGA enters run-off

Munich Re Specialty has placed its high-net-worth MGA GrovesJohnWestrup into run-off, with the move effective from 1 July, The Insurer understands.

FloodFlash expands parametric flood product across US mainland

Parametric MGA FloodFlash has extended its product offering to cover the entire US mainland after expanding its binder with Munich Re Specialty’s syndicate.

Munich Re Specialty hires Homesite’s Carnevale as US programs head

Munich Re Specialty North America has appointed Claudia Carnevale from Homesite Underwriting Managers as head of US programs.

Munich Re names Johnson NA programs head as Monahan appointed Digital Partners lead

Munich Re Specialty Insurance has broadened Kevin Johnson’s role with the executive now holding the title of head of North American insurance programs, a position which gives him oversight for the company’s programs in the US and Canada along with its tech-focused Digital Partners platform.

Munich Re Specialty Insurance eyes continued programs growth

Munich Re Specialty Insurance’s programs business team is targeting further growth in 2024 as it looks to build out its existing $1bn+ North American portfolio, with the company considering expansion into market segments where pricing, terms and conditions meet its underwriting criteria.

Record storm losses sharpen focus on resilience

Record-breaking severe convective storm losses this year have reinforced the importance of ensuring more buildings are resilient to the increased threat, according to Munich Re’s Mark Bove.

RiskPoint partners with Munich Re on offshore wind EPC cover

Expansive MGU RiskPoint has partnered with Munich Re’s Green Tech Solutions team to launch a coverage for contractors, manufacturers and suppliers in the offshore wind sector.

MRSI’s Johnson: capacity picture for ’23 remains up in the air as 1.1 market settles

The late and highly uncertain property reinsurance renewal remains the dominant market theme at year-end, and according to Munich Re Specialty Insurance head of programs Kevin Johnson, property cat-writing MGAs are in a holding pattern until the market clears.

Spot cargo insurtech MiKargo247.com launches with Munich Re backing

Spot cargo insurtech MiKargo247.com has been launched to offer truckers, brokers and shippers access to $1mn insurance coverage underwritten by Munich Re’s Roanoke Insurance Group with underwriting authority provided by the German reinsurer’s Syndicate 457.

FloodFlash gets Munich Re support in $15mn Series A and targets global growth

FloodFlash has secured $15mn of funding in a Series A round that included support from Munich Re Ventures and MS&AD Ventures, with the parametric-focused insurtech MGA expected to use the investment for its international growth plans.

Industry veteran Rheel to join program manager CIBA as CEO

Commercial real estate insurance program manager CIBA Insurance Services has named industry veteran Bob Rheel as its new CEO, succeeding the long-serving Michael Marino who is stepping down from the company’s helm after 28 years.

Canadian insurtech Foxquilt gets capacity from Munich Re

Canadian insurtech Foxquilt has secured capacity from Munich Re Innovation Syndicate 1840 to begin underwriting commercial lines products in February, with the SME-focused MGA scheduled to enter the US market in the Spring.

European giants look to seize US commercial risk opportunity

One of the most noteworthy aspects of Munich Re’s investor day commentary this week was the decision to further shift its business mix towards primary specialty growth.

Munich Re watching accumulations as Digital Partners continues investments

Despite pulling capacity from Hippo and Jetty, Munich Re remains committed to its Digital Partners platform amid a greater awareness of how quickly accumulations can mount across the broader group due to the rapid growth of some of its insurtech-focussed underwriting partnerships.

Farmers offshoot Toggle replaces Munich Re as Jetty’s reinsurer

Farmers Insurance subsidiary Toggle Insurance Company has replaced Munich Re as the reinsurer to renters insurance start-up Jetty.

Travel insurtech MGA Battleface partners with Munich Re

Munich Re’s Roanoke Travel Insurance has partnered with start-up Battleface to launch adventure travel product sales for the MGA in the US.

Munich Re Specialty Insurance looks to grow US program book

Munich Re Specialty Insurance (MRSI) is actively adding new programs in the US as it looks to replace business lost from long-term partner Glatfelter following its sale to AIG and capitalize on opportunities created as other carriers retrench from the space, The Insurer can reveal.