Latest news with #MunichRe
Yahoo
4 days ago
- Business
- Yahoo
Natural Disaster Risk Strategic Intelligence Report 2025: Gallagher Re Identifies the Top Threats As Wildfires, Tropical Storms, Flooding and Droughts, and Earthquakes
Climate change and urbanization are escalating natural disaster risks. According to Munich Re, 2024 ranked third in costly disasters over 45 years. Rising global temperatures increase extreme weather, challenging areas previously unexposed. Gallagher Re identifies wildfires, storms, floods, and quakes as top hazards. Discover strategies for business resilience and emerging tech solutions. Dublin, June 18, 2025 (GLOBE NEWSWIRE) -- The "Strategic Intelligence: Natural Disaster Risk" report has been added to change and urban development are increasing the risk of natural disasters. 2024 was the third most costly for natural disasters in the last 45 years, according to Munich Highlights As shown by the chart on the right, global temperature anomalies over land and ocean have been increasing since 1860. Rising temperatures are driving climate change, which is increasing the intensity and frequency of extreme weather events. The most recent Intergovernmental Panel on Climate Change (IPCC) report from 2023 indicates that disasters fuelled by climate change have become more extreme more quickly than previously predicted. As weather patterns shift, places that did not experience certain hazards now have the weather systems to support them. Scope This report covers wildfires, tropical storms, flooding and droughts, and earthquakes. Gallagher Re, the reinsurance company, calculated that these four hazards had been the four most costly hazards between 2014 and 2024. Other hazards not covered but which are also damaging to populations and industrial activity are extreme cold spells, volcanic eruptions, landslides, and extreme heat. Reasons to Buy Natural disasters can be devastating for businesses. This report looks at the four main types of natural disasters, highlights their potential impacts, and assess how emerging technologies can be used to monitor and mitigate risk. Key Topics Covered: Executive Summary An Introduction to Natural Disaster Risk Wildfires Tropical Storms Flooding and Droughts Earthquakes Navigating Natural Disaster Risk Glossary Further Reading Thematic Research Methodology A selection of companies mentioned in this report includes, but is not limited to: AIDash Allianz AP Moller-Maersk Black Swift Technologies BT Chubb Early Warning Labs EDF Engie Federato FedEx First Street Google Howden IBM ICEYE IEEE Intel ITIKI John Deere Korea Electric Power Microsoft Mighty Buildings MiT Munich Re National Oceanic and Atmospheric Administration Natural Hazards Research Australia Nespresso NTT Data Nvidia Orora Technologies Pacific Gas and Electric Pano Pepsico Previsico Rio Tinto Safehub SageSure Saildrone San Diego Gas and Electric Skanska Sky Alert Skyfora Southern California Edison Swiss Re Technosylva Tekever Toyota TSMC Verizon Waterplan Xcel Energy For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab News
06-06-2025
- Business
- Arab News
Germany's Munich Re withdraws from climate initiatives
FRANFURT: German reinsurance giant Munich Re said on Friday it had withdrawn from several climate alliances but insisted that it would keep pursuing green targets independently. It is the latest sign that major firms are going cold on such initiatives, amid concerns about their effectiveness and growing political opposition in the United States and elsewhere. Munich Re said it had pulled out of the UN-backed Net Zero Asset Owner Alliance, the Net Zero Asset Managers Initiative, Climate Action 100+ and the Institutional Investors Group on Climate Change. The groups all aim to help financial giants reach net-zero carbon emissions. 'Climate related disclosures and associated administrative requirements have become very complex for international corporations,' said the firm, which acts as an insurer for insurers. 'Moreover, they are disproportionate to the impact achieved in terms of climate protection.' It also said there was an 'increasing ambiguity in assessing private initiatives under the legal and regulatory regimes across various jurisdictions.' The group, which last year booked a net profit of 5.7 billion euros ($6.5 billion), said it believed that it could pursue its climate targets 'in a more focused and targeted manner on our own.' 'Climate protection remains an urgent priority for Munich Re,' it said. 'We continue to pursue our goal of contributing to the achievement of the Paris climate targets.' The 2015 Paris climate accords aimed to limit global warming to well below two degrees Celsius above pre-industrial levels — and to 1.5 if possible. The group said it had achieved or exceeded the interim targets that it had set itself for 2025.
National Post
03-06-2025
- Business
- National Post
HSB Canada Marks its 150th Anniversary
Article content Article content TORONTO — HSB Canada is celebrating its 150th anniversary as the specialty insurer looks ahead to its continuing evolution from the age of steam to cyber risks and high-tech equipment in a connected world. Article content In a world powered by steam boilers, HSB Canada was founded in 1875, taking a scientific approach to the perils of the day, when explosions were commonplace and deadly. The company combined inspections, engineering, and insurance to help prevent accidents and provide the coverage and services customers needed to recover and get back in business. Article content Over the years, HSB Canada has been at the forefront of new technologies, offering products and services that protect businesses and individuals, helping prevent losses and advancing energy sustainability. Article content 'It is in HSB's DNA to leverage its technical expertise to manage risks and develop market-oriented solutions for emerging exposures,' said Barbara Bellissimo, president and chief executive officer of HSB Canada. 'HSB Canada's founders showed remarkable foresight in aligning accident prevention with insurance coverage. We have remained true to this principle and today operate with a startup mindset.' Article content HSB Canada provides cyber risk, equipment breakdown, and service line insurance for homes and businesses, and renewable energy all-risk, and specialty liability coverage. Article content HSB Group, part of Munich Re, is a leading provider of equipment breakdown and other specialty insurance, inspections, engineering, and technology services. Article content HSB Canada HSB Canada, part of Munich Re, is a multi-line specialty insurer and provider of inspection and risk management. HSB Canada's insurance offerings include equipment breakdown, cyber risk, and other coverages. HSB blends its engineering expertise, technology and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history HSB's mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit business, public institutions, and consumers. HSB holds A.M. Best Company's highest financial rating, A++ (Superior). For more information, visit and connect on LinkedIn and Facebook. Article content Munich Re Munich Re is one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the asset management company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients' business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2024 financial year, Munich Re generated insurance revenue of €60.8bn and a net result of €5.7bn. The Munich Re Group employed about 44,000 people worldwide as of 31 December 2024. Article content Article content Article content Article content Contacts Article content Article content Article content
Business Insider
31-05-2025
- Business
- Business Insider
Munich Re price target raised to EUR 610 from EUR 600 at Citi
Citi raised the firm's price target on Munich Re (MURGY) to EUR 610 from EUR 600 and keeps a Neutral rating on the shares. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Bloomberg
28-05-2025
- Business
- Bloomberg
Cyberattack Surge Creates Opportunity for Insurers, Prompts Rethink on Premiums
A recent surge in high-profile cyberattacks is offering an opportunity for insurers including Munich Re AG and Chubb Ltd. to cash in from a rapidly expanding market — and prompting a rethink on premiums. As artificial intelligence makes attacks more widespread and devastating, Munich Re expects the global cyber insurance market to reach $16.3 billion in 2025, up from $15.3 billion in 2024. Global premium volume is expected to more than double to around $30 billion by 2030, growing at an average annual rate of more than 10%.
