Munich Re
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The leading reinsurer pledges to boost earnings per share by 5% annually within five years.
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Sandy Warne will report to former Lexington chief George Stratts at the Lloyd’s start-up.
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The German carrier pegs the full-year impact of the pandemic on its reinsurance operations at EUR3.4bn. -
Suncorp, IAG and QBE reinsurers could face significant recoveries after a landmark court ruling.
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The 1 January renewal will be a battle for the biggest slice of post-Covid upside.
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The portfolio of InsurTech partnerships will now be overseen by the company’s specialty businesses in the US and UK.
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Hudzik is a thirty-year plus veteran of the (re)insurance market having also worked at Endurance, Zurich and AIG.
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“Non-Covid” claims in the quarter also came in above average, with the Beirut blast its largest man-made loss.
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The reinsurers point to falling interest rates and loss experience as the basis for further hardening.
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The European reinsurance chief says interest rates and loss experience drive the carrier’s hardening stance.
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Global clients and Bermuda are also in the CUO’s purview as he replaces Peter Röder on the reinsurer’s management board.
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The US tech giant has participated in three rounds at the Indian start-up, which is valued at around $500mn.
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