Munich Re

Hannover Re has followed Zurich and Munich Re in announcing its departure from the Net Zero Insurance Alliance, though it offered no explanation for its decision.

Capitola operates as a digital market that connects brokers with carriers using AI for risk-appetite matching.

Industry climate alliances have received allegations from conservative politicians and regulators in the US that such commitments are illegal group activities that violate antitrust laws.

Monica Tigleanu will be succeeded by Simone Hardy, who has been appointed senior underwriter, joining from The Channel Syndicate.

The executive will stand for election at RenRe’s AGM in May.

The longstanding Chaucer underwriter left when the carrier exited the FI market last year.

The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector. 

The release of Swiss Re, Munich Re, Hannover Re and Scor’s year-end reports provides an update on market conditions.

Highlander has $300mn of insurance coverage, placed by Ed Broking and led by Munich Re Syndicate.

The reinsurer’s retro programme was renewed at a smaller size for 2023.

The P&C segment also booked 2.3% risk-adjusted price increases at the 1 January renewal.

The shares will be bought back for a maximum total value of EUR1bn, following a proposed dividend announced by the firm for voting at its AGM.