Munich Re's Cossette retires; Maistry takes over APAC MEA
Cossette led significant growth and digital innovation over 19 years; Maistry, currently Global Chief Actuary, will succeed in H2 2026.
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Global reinsurance and primary insurance group
munichre.comLast updated
In short: Munich Re reported a €1.7 billion Q1 profit and launched a €2.25 billion share buyback despite stock price pressure and rising climate concerns.
Cossette led significant growth and digital innovation over 19 years; Maistry, currently Global Chief Actuary, will succeed in H2 2026.
Four of the last five years were the costliest on record, with each major non-peak peril hitting its costliest year in this period.
The results were presented by CFO Andrew Buchanan.
Excellent combined ratios in property-casualty and Life/Health, ERGO contribution, and reaffirmed outlook.
Munich Re repurchases shares as Q1 profit jumps, but reinsurance oversupply and euro headwinds weigh on stock. Cyber insurance growth offsets some pressure.
In property catastrophe reinsurance, rates fell significantly at the June renewal. Broker Howden Re reports declines of 15 to 20 percent. For loss-free programs, the...
Munich Re faces challenges from falling reinsurance prices and a hurricane season with reduced coverage. Despite operational strength, the stock price remains under pressure.
Munich Re is under price pressure in reinsurance but needs a major loss event for market changes. A calm hurricane season could prolong the price pressure.
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