We work with the interdisciplinary teams throughout the Munich Re Group and its network of external experts to constantly analyze technological, social and legal developmentsidentifying trends, considering future scenarios and ensuring our competence continues to grow. The pronounced growth was accompanied by an optimisation of the portfolios risk profile. They have made Munich Re a successful global player both in traditional as well as innovative fields of risk transfer. Get to know our Group companies, branches and subsidiaries worldwide. The equity-backing ratio, including equity-based derivatives, rose to 7.7% as at 31December 2021 (31December 2020: 6.0%). As a member of the Munich Re Group, we offer financial strength and stability backed by the world's preeminent insurance and reinsurance brand. Jun 20, 2023 The net income of the Munich Re Group fluctuated significantly between 2005 and 2022. The currency result totalled 262m (200m), and the effective tax rate was 15.9% (18.2%). The ideal entry-level account for individual users. We take it as our responsibility to continually make tomorrows world insurable and apply our vast global resources and services to meet our clients specific needs. In the 2021 financial year, the return on equity (RoE) amounted to 12.6% [target: RoE of 12%14% by 2025]. Munich Res solvency ratio remained stable at 211% in Q2 (31March2020: 212%). statistic alerts) please log in with your personal account. Profit from the additional features of your individual account. You need at least a Starter Account to use this feature. In some cases, price increases were even greater. Munich Re generated a sizeable profit of 173m (135m) in its ERGO field of business in Q1 and 245m (220m) in Q1-2. Munich Re Italy - Mnchener Rck Servizi Tecnici S.r.l. Annual Report 2020 Munich Reinsurance Company 2020 . ERGOs operating result totalled 822m (1,002m), which was particularly impacted by a lower investment result. At 45.846 billion USD. This increase is partly due to the disposal of fixed-interest securities for financing the additional interest reserve and to higher gains on disposals in reinsurance that arise inevitably from the restructuring of portfolios of fixed-interest securities against a backdrop of falling interest rates. Total premium income across all segments in Q2 amounted to 4,228m (4,849m); gross premiums written totalled 3,971m (4,217m). AAIC is licensed to transact insurance or reinsurance business in all . Chart. It is classified as operating in the Insurance Carriers industry. Munich Reinsurance America's Annual Report & Profile shows critical firmographic facts: What is the company's size? Owing to profitable growth, MunichRe now anticipates premium income of around 54bn (previously: around 52bn). Munich Reinsurance America, Inc. The Groups profit in Q4 2021 amounted to 871m (212m). The technical result, including business with non-significant risk transfer, was 48m (72m). To use individual functions (e.g., mark statistics as favourites, set The investment portfolio increased compared with the 2020 year-end figure, with the carrying amount moving up to 240,300m (232,950m); the market values amounted to 257,485m (252,789m). 03-Sep-2020: 24-Apr-2020: 17-Jul-2019: 04-Dec-2018: 04-Jul-2018: 17-Jul-2017: 08-Dec-2016: 06-Jul-2016: 14-Dec-2015: . The aim of Munich Re's entrepreneurial thinking and activity is to analyse risks from every conceivable angle and to assess and diversify them, creating lasting value for shareholders, clients, and staff in relation to the risks assumed. Of the 1.5bn in COVID-19-related losses incurred since the beginning of the year, approximately 1.4bn was attributable to property-casualty reinsurance and around 0.1bn to life and health reinsurance. Net income of Munich Re from 2005 to 2022 (in million euros) [Graph]. Overall, this investment result represents a return of 2.8% on the average market value of the portfolio. Munich Reinsurance America, Inc. has 1,450 employees, and the revenue per employee ratio is $965,517. In the ERGO field of business, pandemic-related losses were in the low double-digit million euro range. Munich Reinsurance America Revenue Est. A more recent docket listing may be available from PACER . All in all, prices for the MunichRe portfolio increased by 0.7%. 2021 2020 Revenue: Change in unearned premium reserve 45.6 50.8 Net investment income 30.5 67.3 . Munich Re. Munich Reinsurance America, Inc. . 3, 4 and 5 of the Regulation (EU) 2019/2088 on sustainability-related disclosures in the finacian service sector, Our Strategy Munich Re Group Ambition 2025, American Alternative Insurance Corporation (AAIC), HSB - The Hartford Steam Boiler Inspection and Insurance Company, Munich Re Asia Pacific Life and Health (APAC). Get to know our Group companies, branches and subsidiaries worldwide. Use Ask Statista Research Service. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). The technical result improved here as well, the year-on-year profit decrease being attributable to a positive, one-off effect in 2020. As Munich Re shareholders, you have been able to count on our robust Backed by a diversified structure and offices across 50+ countries, Munich Re employees take a holistic view while offering specialised expertise to the markets, companies and customers they serve, both locally and globally. Listed below are the sureties found in the most recent Department of the Treasury's Listing of Approved Sureties (Department Circular 570) dated July 1, 2020. The operating result amounted to 465m (1,162m) in Q2. Major losses from natural catastrophes were comparatively low, at 167m (155m). In our Sustainability Report, we describe the ways in which we embrace sustainability in our day to-day operations. Munich Re is one of the worlds leading providers of reinsurance, primary insurance and insurance-related risk solutions. In, Munich Re. Munich Re, one of the world's leading reinsurers, is a German company based in Munich.. All in all, man-made major losses amounted to a considerable 632m (47m). In, Munich Re. Around half of property-casualty business was renewed, with a focus on Europe, the USA (mainly excluding hurricane cover) and global business. MunichRes investment result decreased to 7,156m (7,398m) in 2021. Munich Reinsurance America, Inc. Doc. Show publisher information Conversely, MunichRe does not anticipate any significant expenditure for COVID19 claims at ERGO or in property-casualty reinsurance. RGA's recurring revenue model proved resilient, producing record highs in annual net premiums of $11.7 billion and total revenues of $14.6 billion. Get quick analyses with our professional research service. Then you can access your favorite statistics via the star in the header. As a Premium user you get access to the detailed source references and background information about this statistic. Profit from the additional features of your individual account. Gross premiums written rose considerably to 8,856m (7,583m). The operating result in the 2021 financial year rose considerably to 3,517m compared with 2020 (1,986m), while the other non-operating result amounted to 91m (83m). This was true, for example, of natural catastrophe covers in North America and the Caribbean, where overall prices rose by high single-digit percentages. The ERGO Property-casualty Germany segment reported a profit of 234m (157m) buoyed by a very good technical result and a higher investment result, major losses notwithstanding. American Alternative Munich Re is globally active and operates in all lines of the insurance business. . MunichRe projects a technical result, including business with non-significant risk transfer, of about 400m in life and health reinsurance. 86% of employees would recommend working at Munich Re to a friend and 78% have a positive outlook for the business. MUNICH RE AMERICA CORPORATION Quarterly Report For The Period Ended September 30, 2020 (Pursuant to Section 4.04 of the Indenture between the Company and the . Gross premiums written in 2021 increased by 8.5% year on year to 59,567m (54,890m), which is the highest figure in the history of MunichRe. As always, the projections are subject to major losses being within normal bounds, and to the income statement not being impacted by severe fluctuations in the currency or capital markets, significant changes in the tax environment, or other one-off effects. Munich Re regains the top spot in the global reinsurance ranking in 2020, according to AM Best. The ERGO Property-casualty Germany segment generated a solid result of 50m (55m). Then you can access your favorite statistics via the star in the header. Underwriter jobs at Munich Reinsurance America, Inc. to incorporate the statistic into your presentation at any time. Head of Investor & Rating Agency Relations, Notification of Voting Rights Announcements, American Alternative Insurance Corporation (AAIC), HSB - The Hartford Steam Boiler Inspection and Insurance Company, Munich Re Asia Pacific Life and Health (APAC). ERGO Life and Health Germany reported a lower result of 63m (72m) on account of the impact of COVID-19 on the capital market and in travel insurance. The combined ratios remain at a very good level. Strong performance in several Credit Ratings, Research and Analysis for the global capital markets. As a high-performance organisation, we nurture a culture of personal development, creativity, accountability, and ownership. statistic alerts) please log in with your personal account. If you are an admin, please authenticate by logging in again. The best of the best: the portal for top lists & rankings: Strategy and business building for the data-driven economy: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Munich Re generated a profit of 579m (993m) in Q2 2020, and 800m (1,626m) in Q1-2. Return Receipt Card showing service of 1 Complaint & 3 Summons signed by William H. A. for Munich Reinsurance America, Inc. served on 5/13/2020, answer due 6 . Zippia's data science team found the following key financial metrics about Munich Reinsurance America, Inc. after extensive research and analysis. The Group is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Munich Re posts good Q2 result despite high losses from COVID-19, American Alternative Insurance Corporation (AAIC), HSB - The Hartford Steam Boiler Inspection and Insurance Company, Munich Re Asia Pacific Life and Health (APAC). On a smaller scale, there were also losses in other lines of property-casualty reinsurance, including business interruption. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. The first position of the podium has been occupied for the past two years by its Swiss competitor Swiss Re. Available: https://www.statista.com/statistics/275287/worldwide-investment-results-of-the-munich-re-group-since-2006/, Value of investments of Munich Re from 2008 to 2022, Immediate access to statistics, forecasts & reports, Value of global reinsurance capital 2012-2021 with forecast for 2022, Retention ratio of the total insurance market worldwide 2020, by country, Non-life insurance annual premium growth in Europe by line of business 2020, Life insurance annual premium growth in Europe by line of business 2020, Gross premiums written by Munich Re 2008-2022, Munich Re's gross premium income share 2021, by segment, Operating profit of Munich Re 2013-2022, by business segment, Number of employees of Munich Re 2005-2022, Gross reinsurance premiums written by Munich Re 2008-2022, Combined ratio of Munich Re 2021, by segment, Reinsurance losses of Munich Re from natural disasters 2008-2022, Total premium income of ERGO 2022, by segment, Leading global P/C reinsurers 2019-2020, by gross reinsurance premiums written, Direct premiums written by leading reinsurers in the U.S. 2020-2021, Net premiums earned by leading reinsurers in the U.S. 2020-2021, Policyholder surplus of leading reinsurers in the U.S. 2020-2021, Munich Re's carbon emissions per employee 2009-2022, Combined property/casualty ratio of Munich Re 2008-2022, Return on investment of Hannover Re 2010-2022, Leading global reinsurance brokers in 2013, by gross reinsurance revenue, Assets allocation of global reinsurers 2013-2015, U.S. reinsurance premiums ceded to offshore reinsurers 2019, by country, Income before taxes of Swiss Re 2002-2019, Value of investments of U.S. life and health insurers 2021, by asset type, Value of life and non-life reinsurance sector in Peru 2009-2025, Leading reinsurers in Latin America 2016, by premiums written, Number of companies in the insurance sector in Italy 2021, by field of activity, Leading reinsurers MENA in 2015, by gross premiums, Volume of private tech investments made by insurers worldwide 2014-2021, Value of investments of Munich Re from 2008 to 2022 (in billion euros), Find your information in our database containing over 20,000 reports. facts. In the reinsurance renewals as at 1January 2022, MunichRe was able to increase written business volume to 14.8bn (+14.5%). Munich Re assumes no liability to update these forward-looking statements or to conform them to future events or developments. These figures include run-off profits and losses for major claims from previous years. 31, 2020. By contrast, major-loss expenditure from natural catastrophes rose substantially year on year to 3,139m (906m). Sep 29, 2022 German reinsurer Munich Re was the largest reinsurance company worldwide in 2020 and 2021. Popular Searches Munich Re Group Munich Reinsurance America Inc Munich Re The Hartford Steam Boiler Inspection and Insurance. Similar Companies, Nautilus Insurance Group (a W. R. Berkley Company), Nautilus Insurance Group (a W. R. Berkley Company) Revenue, Wisconsin Reinsurance Corporation Revenue, SCOR Global Life USA Holdings, Inc. Revenue, Nautilus Insurance Group (a W. R. Berkley Company) Reviews, Wisconsin Reinsurance Corporation Reviews, Swiss Reinsurance America Corporation Careers. Also known as. Get to know our Group companies, branches and subsidiaries worldwide. "Value of Investments of Munich Re from 2008 to 2022 (in Billion Euros). Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. Get quick analyses with our professional research service. In the ERGO International segment, it improved to 90.1% (95.0%) in Q2 and to 92.7% (95.2%) in Q1-2; these improvements were fuelled by a lower claims frequency in motor insurance. MunichRe continually seeks to set the amount of provisions for newly emerging claims at the very top end of the estimation range so that profits from the release of a portion of these reserves are possible at a later stage. . None of the information on this page has been provided or approved by Munich Reinsurance America, Inc.. Description. Business development was encouraging, with the exception of the drag on profit due to COVID-19-related losses totalling around 700m in Q2 and some 1.5bn in Q1-2 2020. Munich Reinsurance America (also called Munich Re America), formerly known as American Re-Insurance Corporation before September 2006, is a major provider of property and casualty reinsurance in the United States.Munich Reinsurance America is a subsidiary of Munich Re.Founded in 1917, the company's headquarters is located in Princeton, New Jersey, with regional offices in San Francisco . 57 Case 2:20-cv-00300-MHT-JTA Document 57 Filed 09/08/21 Page 1 of 8 IN THE DISTRICT COURT OF THE UNITED STATES FOR THE MIDDLE DISTRICT OF ALABAMA, NORTHERN DIVISION ALABAMA MUNICIPAL INSURANCE CORPORATION, a non-profit corporation, Plaintiff, v. MUNICH REINSURANCE AMERICA, INC., a foreign corporation . Data prior to 2018 obtained from previous publications. ERGO thus appreciably surpassed its profit target of 500m in 2021, while also achieving the annual target communicated as part of the ERGO Strategy Programme despite burdens from major losses. Munich Re Life US - Munich American Reassurance Company, Inc. Munich Re Underwriting Agents (DIFC) Ltd. Munich Re US - Munich Reinsurance America, Inc, Munich Reinsurance Company of Africa Limited (MRoA), Munich Reinsurance Company of Australasia, Munich Holdings of Australasia Pty Limited (MHA), The Princeton Excess and Surplus Lines Insurance Company (PESLIC). All the same, Munich Re concluded the year by generating a profit of 1.2bn. [Online]. This pleasing result is attributable in particular to the ERGO International segments higher result of 59m (8m). In other words, price increases are offset if they are associated with increased risk and, consequently, elevated loss expectations. The costliest natural disaster for MunichRe in 2021 was Hurricane Ida, at about 1.2bn. It offers customers financial protection when faced with exceptional levels of damage from the 1906 San Francisco earthquake through Hurricane Ida in 2021. Business Solutions including all features. Currently, you are using a shared account. As soon as this statistic is updated, you will immediately be notified via e-mail. A paid subscription is required for full access. (March 15, 2023). $1.4 Billion What is Munich Reinsurance America, Inc.'s Revenue? Accessed July 17, 2023. https://www.statista.com/statistics/273158/largest-reinsurers-worldwide-by-net-premiums/, Reinsurance News. The flash flooding caused by Storm Bernd resulted in losses of around 0.5bn. The Group's profit in Q4 2021 amounted to 871m (212m). . (September 29, 2022). While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. Munich Re has an overall rating of 4.2 out of 5, based on over 862 reviews left anonymously by employees. If the share buy-back which has not been factored into the solvency ratio is taken into account, the ratio is at target level [target: solvency ratio within the optimal range of 175-220%]. ERGO Internationals combined ratio was likewise at a very good level, at 92.9% (92.7%) [target: 93%], major losses in Austria and the Baltic states notwithstanding. A lower investment result in this segment was more than offset by an improved currency result and a good technical result, which was driven by improvements in health and very good claims experience in travel insurance. Overall, the Q2 investment result represents a return of 2.7% on the average market value of the portfolio. Due to high natural catastrophe losses, the combined ratio amounted to 99.6% (105.6%)of net earned premiums; this was slightly better than the updated target value of 100% communicated in the Q3 Media Release. Credit Ratings, Research and Analysis for the global capital markets. Get to know our Group companies, branches and subsidiaries worldwide. "Largest reinsurers worldwide in 2020 and 2021, by net premiums written (in billion U.S. holders of the Company's 7.45% Senior Notes) 555 College Road East . At the same time, ERGO managed to grow substantially. Profit from the additional features of your individual account. Major losses of over 10m each totalled 799m (202m). You need at least a Starter Account to use this feature. Alabama Municipal Insurance Corporation v. Munich Reinsurance America, Inc., No. Munich Reinsurance America, Inc. is licensed to transact insurance or reinsurance business in all fifty states and the District of Columbia. You need at least a Starter Account to use this feature. Munich Reinsurance America, Inc.'s annual revenue is $1.4B. Premium volume rose to 5,524m (4,842m). ($ Million) Growth Rate (%) # Employees; 2021: Details in Premium Report: 2020: 2019: 2018: 2017: 1-Year Growth Rate: 3-Year Growth Rate (CAGR): Note: Munich Reinsurance America's revenues are gauged from an analysis of company filings. The primary focus of the renewals was business in North America, South America, Australia, and with global clients. MUNICH REINSURANCE AMERICA, INC. MEDICAL PLAN 2:2020cv09391 | US District Court for the District of New Jersey | Justia TOMARCHIO v. MUNICH REINSURANCE AMERICA, INC. MEDICAL PLAN RSS Track this Docket Docket Report This docket was last retrieved on September 1, 2020. Compared to Q22019, gross premiums written increased by 8.7% to 12,827m (11,799m); in Q1-2, they rose by 7.7% to 27,112m (25,175m). This income was further impacted both by the sale of companies outside Germany in 2019 as part of portfolio optimisation and by a drop in premium volume in travel business owing to COVID-19. Please create an employee account to be able to mark statistics as favorites. Dollars). As soon as this statistic is updated, you will immediately be notified via e-mail. Directly accessible data for 170 industries from 150+ countries The segment was impacted by a higher mortality attributable to COVID-19, with claims totalling 785m in 2021. Munich Re. The Top 50 Global Reinsurance Groups directory is based on research data from the rating agency A.M. Best and measures reinsurers based on reinsurance gross premiums written. These figures include gains and losses from the settlement of major losses from previous years. Financial Information Munich Re America Corporation is the holding company for various reinsurance and insurance entities which provide reinsurance, insurance and related services to insurance companies, commercial businesses, government agencies, and self-insurers in the United States.