News: Muenchener Rueckversicherungs Gesellschaft AG in Muenchen (MUVGn.DE)
15 Aug 2014
Tue, Oct 21 2014
DUESSELDORF, Oct 21 - DAS UK, the British legal-insurance arm of Munich Re, has suspended its chief executive officer Paul Asplin following an internal investigation and named Paul Timmins, the unit's chief operating officer, as acting CEO, the company said in a statement on its website on Tuesday.
* Overall, price pressure still looms for 2015 (Adds Hannover Re, quotes, context)
BADEN-BADEN, Germany, Oct 20 - Munich Re sees no reason for reinsurance prices in its home market Germany to decline, it said on Monday, as it starts annual contract talks with insurance company clients for reinsurance cover in 2015.
FRANKFURT, Oct 19 - The world's largest reinsurer Munich Re expects it will be tough to maintain current profit levels in 2015 due to lower prices as a result of increasing competition, according to a newspaper report.
* Works to expand geographical markets and products (Adds executive comment, detail)
MONACO, Sept 14 - Munich Re expects competitors to put up a tough fight for business in coming months as reinsurers jostle over market share in renewing annual contracts with insurance company clients, it said on Sunday.
ATHENS, Aug 14 - Piraeus Bank, Greece's second-largest lender by assets, agreed to sell its ATE Insurance business to Ergo Insurance Group, a subsidiary of German reinsurer Munich Re, for 90.1 million euros ($120 million) in cash.
* Shares 1.9 percent lower vs flat insurance index (Changes dateline, adds analysts, company comment, shares)
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FRANKFURT, Aug 7 - A surge in investment income helped reinsurer Munich Re post a 45 percent increase in net profit to 765 million euros ($1 billion) in the second quarter though the gain fell short of analysts' expectations.