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Munich Re 

“Market Cap $38.89 B As of May 2014

At a Glance

  • Industry: Diversified Insurance
  • Founded: 1880
  • Country: Germany
  • CEO: Nikolaus von Bomhard
  • Website: www.munichre.com
  • Employees: 44,665
  • Sales: $88.03 B
  • Headquarters: Munich

Forbes Lists

#92 Global 2000

  • #78 in Sales
  • #139 in Profit
  • #92 in Assets
  • #258 in Market value
Profile

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.

 1890–1909: Expansion beyond Germany’s borders

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

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

 1950–1969: Growth years

 1970–1989: Natural catastrophes – the growing threat

 1990–1999: Years of expansion

 2000–2010: The new Munich Re brand

*Information from Forbes.com and Munichre.com

**Video published on YouTube by “Munich Re, US