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Munich Re was founded in 1880 by Carl von Thieme amid a flurry of other reinsurance companies set up independent of primaries. Then, most reinsurers typically focused on a few customers with strong reputations. Thieme focused on a broader set of cedents in order to drive stronger growth in premiums. This coincided with a strategy of risk diversification and a preference to partner rather than take on a one-sided transfer of risk. In the 1890s, Munich introduced the first machinery insurance. After von Thieme and Wilhelm von Finck founded Allianz, this was the main channel to sell insurance on machinery. We think the approach of partnering with insurers and preferring to avoid one-sided risk, in conjunction with combining inspection and insurance services, remains at the heart of the firm.

Hannover Re is a reinsurance company headquartered in Hannover, Germany. Its roots go back to the 1920s when, in conjunction with the Gerling Group, Haftpflichtverband founded Eisen- und Stahl-Industrie to provide reinsurance services. In the 1960s ownership of the business was turned over to Haftpflichtverband, and Aktiengesellschaft für Transport und- Rückversicherung was founded. This was the basis of Hannover Re. The business expanded into life and health reinsurance in the 1990s, and over the next 30 years expanded beyond its core domestic market of Germany to write business internationally. Hannover sold its commercial specialty insurance business to Talanx in January 2019. Hannover was listed in the 1990s on the Frankfurt Stock Exchange.

RENAISSANCERE HOLDINGS LTD has an Investment Rating of HOLD; a target price of $275.000000; an Industry Subrating of Low; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of Medium; a Growth Subrating of Medium; and a Value Subrating of High.

SIRIUSPOINT LTD has an Investment Rating of HOLD; a target price of $14.000000; an Industry Subrating of Low; a Management Subrating of Medium; a Safety Subrating of Medium; a Financial Strength Subrating of High; a Growth Subrating of Medium; and a Value Subrating of Medium.