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    Munich Re

    DariusBy Updated:No Comments4 Mins Read
    Münchener Rückversicherungs AG logo
    Münchener Rückversicherungs AG logo

    Münchener Rückversicherungs AG history, profile and corporate video

    Münchener Rückversicherungs AG is engaged in the provision of insurance and reinsurance services. It operates through the following businesses: Life Reinsurance, Health Reinsurance, Property-Casualty Business, Accident Reinsurance, Liability Business, Motor Reinsurance, Marine Reinsurance, Aviation Reinsurance, and Fire Reinsurance. The Reinsurance segment provides traditional reinsurance, comprehensive services and consulting to complex risk solutions, which covering the entire value chain of the global insurance industry in life and non-life business. It also provides risk solutions for industrial and major clients. The Primary Insurance segment provides services through ERGO, which offers its clients via various sales channels a broad range of products covering the whole spectrum of insurances for private, commercial and industrial needs, including life insurance, property-casualty insurance, health, legal expenses and travel insurance. The Munich Health segment specializes in intelligent, integrated solutions tailored to the market, providing long-term growth for clients. The Munich Health brand combines Munich Re’s global insurance, reinsurance and risk-management expertise in the field of healthcare. The company was founded by Carl von Thieme on April 3, 1880 and is headquartered in Munich, Germany.“

    “130 years Munich Re – An exciting story

    It all started on a small scale in April 1880: two rooms, four staff members, standing desks, oil lamps, no telephone. But behind this modest new business lay a great idea. The founding of Munich Reinsurance Company heralded the onset of a new reinsurance era. Von Thieme’s aim was to achieve success with a company that was independent of insurers, had a broad spread of risk and an efficient system of reinsurance treaties, and remained very close to its clients. The idea worked. Within a few years, Munich Re had become a world leader in its field and has continued to play an important role in shaping the insurance industry up to the present day. However, there have been some serious setbacks on the way – Munich Re has had to cope with large loss events, two world wars and upheaval in the financial markets, but has emerged from all of these crises and surged ahead again with renewed strength and ideas.

    From a four-man business to one of the world’s leading risk carriers – a company story that has never been low on excitement:
    1880–1889: The early years
    The founding of the company and the first treaties. Initial ventures into primary insurance.

     1890–1909: Expansion beyond Germany’s borders

    Munich Re enters the British and US markets. The company introduces machinery insurance and suffers its first large losses.

     1910–1919: The company’s first building, the war years

    New risks are covered, such as aviation and life insurance for all, and the Main Building is erected. Success is dampened by the difficult war years.

    1920–1949: The Weimar Republic and the Second World War

    The Second World War constrains the company’s operations: international transactions are prohibited, the company is brought before a military tribunal and severe catastrophes have to be absorbed. 

     1950–1969: Growth years

    International transactions are again permitted. Munich Re regains its old strength. After only three years, business stands at around two-thirds of pre-war levels.

     1970–1989: Natural catastrophes – the growing threat

    As a result of the increasing occurrence of natural catastrophes, Munich Re sets up a research unit for natural hazards. The company celebrates its centenary and expands its international business. 

     1990–1999: Years of expansion

    The 1990s are marked by many decisions that safeguard the company’s long-term position in the national and international markets and strengthen its balance sheet. These include the acquisition of American Re and the founding of the ERGO Insurance Group and MEAG, the Group’s asset management company.

     2000–2010: The new Munich Re brand

    Munich Re sets out to offer its clients more than “classic” reinsurance and becomes a provider of solutions for the insurance industry’s entire value chain.”

    *Information from Forbes.com and Munichre.com

    **Video published on YouTube by “Munich Re (Group)“

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    I've spent over a decade researching and documenting the stories behind the world's most influential companies. What started as a personal fascination with how businesses evolve from small startups to global giants turned into CompaniesHistory.com—a platform dedicated to making corporate history accessible to everyone.