Munich Re
| Company type | incorporation |
|---|---|
| Industry | reinsuranceen direct insurance |
| Founded | 19. April 1880 |
| Headquarters | Munich |
Key people | Dr. Nikolaus von Bomhard (Chairman of the Board of Management) |
| Revenue | 37.4 €bn (gross 2006) |
Number of employees | 37,210 (2006) |
| Website | www.munichre.com |
Munich Re AG, in German Münchener Rück AG (ISIN: DE0008430026), is the world's second largest reinsurance company with over 5,000 customers in 160 countries and has its headquarters in Munich, Germany.
Munich Re was founded in 1880 by Carl Thieme, who also founded the Allianz insurance company, Germany's largest insurance company. Munich Re is the name as used by the company, short for the legal name Munich Reinsurance Company, or in German Münchener Rückversicherungs-Gesellschaft.
The quick and unbureaucratic handling of claims after the 1906 San Francisco earthquake was the beginning of Munich Re's path to becoming the world's largest reinsurer. Munich Re was one of the major insurers of the World Trade Centre in New York City that was destroyed on 11 September 2001.
Its Canadian office is in downtown Toronto. Its U.S. office is in Princeton, New Jersey. Its U.K. office is in Canary Wharf and Fenchurch Street.
Key Figures for 2006
| Gross premiums written | €bn 37.4 |
| Result before amortisation of goodwill | €m 5,498 |
| Taxes on income | €m 1,648 |
| Consolidated result | €m 3,536 |
| Thereof attributable to minority interests | €m 96 |
| Investments | €bn 176.9 |
| Return on equity | % 14.2 |
| Equity | €bn 26.4 |
| Net underwriting provisions | €bn 153.8 |
| Staff at 31 December | 37,210 |
See also
External links
Data
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