Munich Re Confirms its Commitment to Building Science with Investment in the IBHS Research Center
Media Relations Manager, IBHS
(813) 675-1045 (o); (813) 442-2845 (c)
Head of Marketing Communications
Munich Reinsurance America, Inc.
(609) 243-4339 (o); (609) 933-6712 (c)
The Insurance Institute for Business & Home Safety (IBHS) announced today that Munich Re, one of the world’s leading reinsurers and a founding member of the IBHS Research Center, has made an additional $750,000 investment, which will be used to further ground-breaking building science research conducted at the world-class research facility in South Carolina.
“IBHS and Munich Re have long shared a strong, productive partnership and we are grateful for their leadership at the Institute on many levels,” said Julie Rochman, IBHS president and CEO. “Munich Re’s generous investment will help IBHS continue its work to identify new ways to create stronger, safer residential and commercial structures.”
The IBHS Research Center is a unique, state-of-the-art, multi-risk applied research facility that has been in operation for just over two years. The center allows IBHS researchers to conduct full-scale building science research to more fully and accurately evaluate various residential and commercial construction materials and systems.
While the initial research protocols are focused on U.S. building and construction issues, IBHS will be exporting its research findings globally and expects to expand its work with science, building and insurance organizations in other countries.
“This facility is a tangible, very public demonstration of the property insurance industry’s deep commitment to reducing and preventing losses that disrupt the lives of millions of home and business owners each year. IBHS’ scientific research has already influenced residential and commercial structural design and construction, and will continue to do so for decades to come,” Rochman said.
“Munich Re is pleased to support the IBHS’s mission to research and promote effective actions that strengthen homes, businesses, and communities against natural disasters and other causes of loss,” said Anthony J. Kuczinski, Munich Re America president and CEO. “The important work of the IBHS helps improve safety and security when natural disasters and other risks occur.”
Visit DisasterSafety.org for more information about how to make your buildings more resistant to a variety of disasters, large and small. Follow IBHS on Twitter at @DisasterSafety and on Facebook.
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IBHS is an independent, nonprofit, scientific and communications organization supported by the property insurance industry. The organization works to reduce the social and economic effects of natural disasters and other risks to residential and commercial property by conducting research and advocating improved construction, maintenance and preparedness practices.
About Munich Re
In the U.S., Munich Re provides access to a full range of property and casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. Munich Re creates value for clients, shareholders and staff alike. In the financial year 2011, the Group – which combines primary insurance and reinsurance under one roof – achieved a profit of €0.71bn on premium income of around €50bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €27bn from reinsurance alone, it is one of the world’s leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. Its primary insurance operations are concentrated mainly in the ERGO Insurance Group, one of the major insurance groups in Germany and Europe. ERGO is represented in over 30 countries worldwide and offers a comprehensive range of insurances, provision products and services. In 2011, ERGO posted premium income of €20bn. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €202bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
© 2012 Insurance Institute for Business & Home Safety