Reinsurance
Risk is our business. Our variety of products, financial strength and client proximity secure our success. With premium income of around €21.8bn (in 2008), Munich Re is one of the world's leading reinsurers.
Munich Re offers solutions for the entire spectrum of reinsurance. We reinsure risks worldwide, covering losses arising from natural catastrophes, major construction projects, third-party liability cases, personal injuries and countless other hazards. And besides reinsurance cover, we also provide valuable services such as risk inspections, specialist presentations, seminars and workshops on important issues of risk management.
Worldwide client proximity
Our hallmarks are client proximity and security. And our maxim is that profitability takes precedence over volume. We support our clients’ success with our knowledge of risk. Thanks to our competence in identifying, analysing and managing insurance risks, we deliver decisive added value to cedants, for example, in underwriting complex risks.
We seek dialogue, listen and learn. Because that is the best way to identify and respond to changing needs and to generate products that match those needs.
Marketing
Our reinsurance business is divided between six divisions: Europe and Latin America; Germany, Asia Pacific, Africa; Global Clients/North America; Corporate Underwriting; Life; and Special and Financial Risks.
As reinsurers, we write our business predominantly in direct collaboration with the primary insurers, but also via brokers. This includes business offered to us by industrial clients through their captives or risk retention groups (alternative market business).
Knowledge hub and knowledge manager
Knowledge itself and rapid translation of knowledge into (re)insurance solutions play a prominent role here. This knowledge will not necessarily have to come from within the Group. In future, it will increasingly be generated through networks. The cooperations with GEM (Global Earthquake Model), LSE (London School of Economics) or our collaboration with the RAND think tank in the USA are a first step in this direction. In these cooperations, we act as managers of international knowledge networks, which enables us to bring external knowledge into our organisation. At the same time, knowledge generation and training will be driven forward within the Group.
With our vision of becoming a leading carrier of knowledge worldwide, we will reap a cumulative advantage over our competitors from the positive development of the global reinsurance market.