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Munich Re

PRI reporting framework 2017

You are in Organisational Overview » Basic Information

Basic Information

OO 01. Signatory category and services

01.1. Select the type that best describes your organisation or the services you provide.

01.2. Additional information. [Optional]

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 €2.6bn on premium income of €48.9bn. It operates in all lines of insurance, with almost 43,000 employees throughout the world.

Reinsurance:
With premium income of around €28bn 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.


Primary insurance:
Our primary insurance operations are mainly concentrated in the ERGO Insurance Group. 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. More than 29,000 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 €16bn.


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 combines its global healthcare knowledge in primary insurance and reinsurance with a premium income of €5.0bn in the financial year 2016. 2,500 experts located across the globe use this wealth of knowledge to offer our international clients innovative solutions and individual consultancy and services. Our unique business model means we can respond quickly and effectively to changes in local markets, thus ensuring the long-term success of our clients.


Asset management:
The Group’s worldwide investments 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.  
MEAG also offers its expertise to private and institutional clients. The volume of these assets under management amounts to a total of €19.2bn.

 

 


OO 02. Headquarters and operational countries

02.1. Select the location of your organisation’s headquarters.

Germany

02.2. Indicate the number of countries in which you have offices (including your headquarters).

02.3. Indicate the approximate number of staff in your organisation in full-time equivalents (FTE).

43428 FTE

02.4. Additional information. [Optional]

43,554 employees in 2015


OO 03. Subsidiaries that are separate PRI signatories

03.1. Indicate whether you have subsidiaries within your organisation that are also PRI signatories in their own right.

03.3. Additional information. [Optional]


OO 04. Reporting year and AUM

04.1. Indicate the year end date for your reporting year.

31/12/2016

04.2. Indicate your total AUM at the end of your reporting year, excluding subsidiaries you have chosen not to report on.

Total AUM
trillions billions millions thousands hundreds
Currency
Assets in USD
trillions billions millions thousands hundreds

04.4. Additional information. [Optional]


OO 06. How would you like to disclose your asset class mix

New selection options have been added to this indicator. Please review your prefilled responses carefully.

06.1. How you would like to disclose your asset class mix.

Internally managed (%)
Externally managed (%)

 

Listed equity <10% 5 0 0
Fixed income >50% 77 0 0
Private equity 0 0 0 0
Property <10% 4 0 0
Infrastructure 0 0 0 0
Commodities 0 0 0 0
Hedge funds 0 0 0 0
Forestry 0 0 0 0
Farmland 0 0 0 0
Inclusive finance 0 0 0 0
Cash <10% 3 0 0
Other (1), specify <10% 9 0 0
Other (2), specify <10% 2 0 0

'Other (1)' specified

          AuM including Ergo stake of Munich Re and third party assets
        

'Other (2)' specified

          Alternative investments including renewable energy, infrastructure investments, Hedge Funds, Private Equity, farmland and forestry
        

06.2. Publish our asset class mix as per attached image [Optional].

06.3. Provide contextual information on your AUM asset class split. [Optional]


OO 07. Fixed income AUM breakdown (Private)


OO 08. Segregated mandates or pooled funds (Not Applicable)


OO 09. Breakdown of AUM by market

09.1. Indicate the breakdown of your organisation’s AUM by market.

 

 

Developed Markets

 

 

Emerging, Frontier and Other Markets

Total
100%

09.2. Additional information. [Optional]

A core guiding principle for Munich Re is acting in a far-sighted and responsible manner in the interests of both the Group and society. We have refined our Group-wide corporate responsibility strategy, based on the shared-value approach. This means that, in our business operations, we bring together economic and social progress to counter the most significant global challenges. We are therefore concentrating on mitigating the consequences of climate change; improving access to healthcare for all societal groups worldwide; and increasing risk awareness within our Group, among our staff, clients, shareholders, and in society.

We have the relevant abilities, resources and risk expertise to originate new solutions. In close cooperation with recognised partners, we generate added value through our business solutions and initiatives.

Our voluntary commitments, such as the ten principles of the United Nations Global Compact, the Principles for Responsible Investment, and the Principles for Sustainable Insurance are the foundations of our corporate responsibility approach. In our insurance business and investment management, we proactively embrace environmental and social factors, as well as governance aspects. We have implemented a Group-wide environmental management system, and our operations have been carbon-neutral since 2015. With our social involvement, we fulfil our role as a “good corporate citizen”, focusing on projects related to our core business. All information on our endeavours is available from our corporate responsibility portal at www.munichre.com/cr-en.


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