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Munich Re

 
Wikipedia: Munich Re
Munich Re Group
Münchener Rück
Type Public (FWB: MUV2)
Founded 19 April 1880
Headquarters Munich, Germany
Key people Nikolaus von Bomhard (CEO and Chairman of the executive board), Hans-Jürgen Schinzler (Chairman of the supervisory board)
Industry Financial services
Products Reinsurance, primary insurance, asset management
Revenue 46.13 billion (2008)[1]
Operating income €3.262 billion (2008)[1]
Profit €1.503 billion (2008)[1]
Total assets €215.4 billion (2008)[1]
Employees 44,200 (2008)[1]
Website www.munichre.com

Munich Re AG, in German Münchener Rück AG (FWB: MUV2), is the world's largest reinsurance company[2] with over 5,000 customers in 160 countries and has its headquarters in Munich, Germany.

Munich Re was founded in 1880 by Carl von 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 Center in New York City that was destroyed on 11 September 2001.

Its Canadian office is in Toronto. Its U.S. office is in Princeton, New Jersey. Its UK offices are in Canary Wharf and Fenchurch Street.

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See also

References

  1. ^ a b c d e "Annual Results 2008". Munich Re. http://www.munichre.com/app_resources/pdf/press/press_releases/2009/2009_03_03_balance_01_en.pdf. Retrieved 6 March 2009. 
  2. ^ Aglionby, John (3 May 2009). "Munich Re pilots Jakarta flood policy". Financial Times. http://www.ft.com/cms/s/0/30869104-3800-11de-9211-00144feabdc0.html. Retrieved 2009-05-09. 

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