The FINANCIAL — The sports-car manufacturer Porsche, its management and IT consulting subsidiary MHP, and the insurance group Munich Re have founded a joint venture – the “FlexFactory”. This aims to make the production of small series of all kinds of different
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The FINANCIAL — Munich Re published Quarterly Statement. Munich Re generated a profit of around €1bn in the first three quarters of 2020 – despite COVID-19-related losses of €2.3bn In Q3, profits amounted to €199m (COVID-19-related losses in Q3: approx. €800m) Substantial increase
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The FINANCIAL — In the third quarter, Munich Re registered COVID-19-related losses totalling about €800m in reinsurance. The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business. As
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The FINANCIAL — Following years of eroding rates caused by excess capacities and low major-loss expenditure, particularly in European markets, low interest rates – likely to remain even lower for even longer due to the coronavirus pandemic – are impacting the profitability
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The FINANCIAL — The TRUMPF Group and Munich Re Group (Munich Re) are entering into a strategic partnership for an innovative service offering of laser cutting machines. The jointly developed “pay-per-part model” enables customers to use a full-service laser machine without having
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