3Vote!
News-Insurances (Free subscription) | yesterday
Bangladesh, Myanmar and Honduras were the countries most severely affected by extreme weather events from 1990 to 2008, according to a climate change risk study published on Tuesday. When only 2008 is considered, the top three worst-hit countries were Myanmar, Yemen and Vietnam, said the paper which was published on the sidelines of the ongoing UN [...]
3Vote!
Carbon-Based (Free subscription) | 11/30/2009
Sarah Hills in Reuters : There is clear evidence that climate change is contributing towards rising natural catastrophe losses and ambitious climate protection targets are needed to tackle the increase, according to Munich Re. The world's biggest reinsurer (MUVGn.DE) said its NatCatSERVICE database, a global record for natural catastrophes, shows the average number of major weather-related catastrophes...
3Vote!
Reuters UK (Free subscription) | 11/30/2009
LONDON - Nov 30 (Reuters) - There is clear evidence that climate change is contributing towards rising natural catastrophe losses and ambitious climate protection targets are needed to tackle the increase, according to Munich Re.
3Vote!
Carbon-Based (Free subscription) | 11/26/2009
When Munich Re says that the likely contribution of climate change is in the low single-digit percentage, don’t feel that you can relax about global warming. What matters more is how quickly this proporition is increasing. This increase is what has insurers worried. Oliver Suess in Bloomberg : Munich Re, the world’s biggest reinsurer, said climate change is “one of the...
+Vote!
News-Insurances (Free subscription) | 11/25/2009
Munich Re has acquired further shares in ERGO Versicherungsgruppe AG (ERGO) from Bayerische Hypo- und Vereinsbank AG (HVB) via an investment company. This acquisition increases Munich Re’s direct and indirect holdings in ERGO’s share capital to more than 95%. At ERGO’s next Annual General Meeting, scheduled for 12 May 2010, a squeeze-out resolution is therefore to be...
+Vote!
News-Insurances (Free subscription) | 11/26/2009
Climate change is one of the biggest challenges facing mankind. It claims many lives. And it also costs a great deal, given the rising trend in weather-related natural catastrophes and resulting losses. Whilst a number of factors are involved, there is clear evidence indicating that one cause is climate change. Climate protection is necessary and makes [...]
+Vote!
Boston Globe (Free subscription) | 11/26/2009
BERLIN—Next month's Copenhagen summit needs to make significant progress toward a new climate-change deal, a leading reinsurer said Thursday, arguing that global warming already is costing billions of dollars per year."Our statistics clearly show that the loss burden from weather-related natural catastrophes is increasing," said Torsten Jeworrek, a board member at Munich Re AG.Munich...
4Vote!
Market Watch (Free subscription) | 11/18/2009
MADRID (MarketWatch) -- German reinsurance group Munich Re was downgraded to neutral from overweight on Wednesday at J.P. Morgan, which cited lower forecast realized gains -- gains on the sale of investments. The investment bank cut its earnings per share forecasts for 2009 by 5%, 2010 by 15% and 2011 by 14%. J.P. Morgan said it's now forecasting lower realized gains because of lower net profit...
+Vote!
The Earth Times Online Newspaper (Free subscription) | 11/05/2009
Munich - Munich Re, the world's largest re-insurer, reported Thursday it returned to the black in the third quarter, achieving a net result of 644 million euros (947 million dollars). Citing a recovery setting in on capital markets which helped its i...
+Vote!
Financial Times (Free subscription) | 11/05/2009
Munich Re increased quarterly operating profits but the world's largest reinsurer warned low investment yields could reduce its returns in coming years
+Vote!
News-Insurances (Free subscription) | 11/05/2009
The world’s biggest re-insurance group, Munich Re, said Thursday it aimed for a full-year net profit of between 2.2-2.5 billion euros (3.3-3.7 billion dollars) after posting a net profit of 644 million euros in the third quarter. Analysts polled by Dow Jones Newswires had forecast a higher net profit of 727 million euros for the three-month [...]
+Vote!
The Wall Street Journal (Free subscription) | 11/05/2009
The reinsurer said it returned to a net profit amid low disaster claims, substantial value gains from its investments and higher premium income.
+Vote!
Market Watch (Free subscription) | 11/05/2009
LONDON (MarketWatch) -- Reinsurance group Munich Re said Thursday that it swung to a third-quarter net profit of 644 million euros from a loss of 3 million euros a year earlier as the amount of premiums written rose and its investment performance improved. The group said net earned premiums increased 12.7% to 9.98 billion euros and its investment result rose to 2.24 billion euros from 662 million...
+Vote!
Boston Globe (Free subscription) | 11/05/2009
German reinsurer Munich Re AG said Thursday that its net income surged to euro644 million ($950.6 million) during the third quarter, lifted by a significant boost in investment revenue and fewer weather-related claims.
3Vote!
News-Insurances (Free subscription) | 11/05/2009
Summary of Munich RE’s figures for the first nine months Published on 5 November, 2009by The Group recorded a good operating result of €3,318m (2,654m) for the period from January to September, €1,211m of this in the third quarter. Shareholders’ equity increased to €22.8bn or 7.3% since the beginning of year.The annualised return on risk-adjusted capital after tax (RORAC) for the first three...
