Torsten Jeworrek News
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Munich Re, the world’s largest reinsurer, said global losses from natural catastrophes were cut in half in 2012, with Hurricane Sandy causing the highest costs.
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Munich Re, the world’s biggest reinsurer, said it expects stable rates for property and casualty reinsurance during January price negotiations.
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Munich Re , the world’s biggest reinsurer, plans to increase the amount of insurance it sells to oil-rig operators in the Gulf of Mexico following the Deepwater Horizon oil spill, as premium rates in other industries and locations remain flat.
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Munich Re, the world’s biggest reinsurer, shrugged off losses from Hurricane Sandy to raise its full-year earnings forecast after an almost fourfold increase in third-quarter profit.
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Insurers and reinsurers may limit the coverage they offer for supply-chain disruptions and negotiate higher prices after record claims from natural disasters in Japan and Thailand.
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Munich Re and Scor SE said overall reinsurance prices will increase, driven by more expensive catastrophe coverage, while brokers said claims haven’t risen enough to push prices higher.
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Munich Re may seek more acquisitions in the U.S., Financial Times Deutschland said, citing management board member Torsten Jeworrek .
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Munich Re expects to post a profit this year and keep dividend payments to shareholders unchanged, Tagesspiegel reported, citing management board member Torsten Jeworrek.
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Shares of the following companies may have unusual moves in European trading. Stock symbols are in parentheses.
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The cost to insurers of natural disasters increased by more than two-thirds to $37 billion last year from 2009, according to Munich Re , the world’s biggest reinsurer.
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