AddressMunich Re Centre 47 Empire Road, Parktown Johannesburg 2193 South Africa
About Munich Re
The foundation of Munich Reinsurance Company in 1880 is largely due to the efforts of Carl Thieme. It is also Thieme who stated that: "By its nature, reinsurance needs to be international". He consistently follows his conviction by putting the company on an international footing from the v... read moreery start. He establishes a business model whose essential features remain valid up to the present day: independence from primary insurers, a broad spread of risks, an efficient system of treaty management, working in partnership with clients and innovative insurance concepts.
Munich Re quickly develops into one of the leading risk carriers worldwide, and has been helping shape the insurance industry ever since. In 2010, with the aim of reviewing the historical role and development of the company, Munich Re commissions business historians Johannes BÃ¤hr and Christopher Kopper with the task of producing an independent study on the company's history. It is published by Verlag C.H. Beck in the autumn of 2015 with the title "Munich Re - Die Geschichte der MÃ¼nchener RÃ¼ck", and covers the period from 1880 to 1980. The English edition will follow in 2016. The stages of the company's history detailed below have been based on the findings of the study and reflect research covering the years up to 1980. This applies in particular to the entirely new chapter on the role of Munich Re during the Nazi period.
Our business model is based on the combination of primary insurance and reinsurance under one roof. We take on risks worldwide of every type and complexity, and our experience, financial strength, efficiency and first-class service make us the first choice for all matters relating to risk. Our client relationships are built on trust and cooperation.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. In the financial year 2016, Munich Re (Group) achieved a profit of â‚¬2.6bn on premium income of â‚¬48.9bn*. It operates in all lines of insurance, with more than 43,000 employees throughout the world.
With premium income of â‚¬27.8bn from reinsurance alone, Munich Re is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after business partner. Our roughly 12,000 staff in reinsurance possess unique global and local knowledge. Munich Re attaches great importance to its client service, which regularly receives top ratings.
Our primary insurance operations are mainly concentrated in the ERGO Group AG. Worldwide, the Group is represented in over 30 countries and concentrates on Europe and Asia. ERGO offers a comprehensive spectrum of insurance, provision and services. In its home market of Germany, ERGO ranks among the leading providers across all segments. About 43,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2016, ERGO recorded a premium income of â‚¬16.0bn.
The Group’s worldwide assets of â‚¬219.4bn are managed by MEAG. The quality of our asset management proved its worth during the recent financial crisis, which Munich Re weathered with continued financial strength.
In addition, MEAG also offers its expertise to private and institutional clients. The volume of assets under management amounts to a total of â‚¬19.2bn.
* Munich Health: The units of the Munich Health field of business were integrated into other divisions as of 1 February 2017. The reinsurance units were merged with the Life reinsurance division, and primary health insurance business was transferred to ERGO. Under the Munich Health brand, Munich Re achieved a premium income of â‚¬5.0bn in the financial year 2016.