The company’s first building, the war years

Munich Re grew and grew. In 1911, some 300 staff were working at Head Office in Munich in six separate buildings, which did little for efficiency. The decision was therefore taken to construct the company’s first building of its own and a plot of land between Kaulbachstrasse und Königinstrasse was purchased. The entrance to the building was to be on Kaulbachstrasse, with a garden merging harmoniously with Munich’s English Garden on the other side. However, a “Kaulbachstrasse” address was not to everyone’s liking, so the plans were rotated 180 degrees. This unfortunately meant giving up the link to the English Garden, but the address was right – Munich Re would “reside” on Königinstrasse (“Queen Street”).
A year after the company had moved into the Main Building, the First World War broke out. The economic situation worsened. After the war, the Treaty of Versailles prohibited business in important markets such as Russia, France, Britain and the USA.

1910 – Cover available for aviation risks for the first time

Munich Re breaks new ground by writing aviation risks. The first statistics become available in 1910. In 1913, the first reinsurance cover for the fire insurance of an airship under construction is provided. In 1918, an extensive exposé is written on the liability and accident insurance of aviation risks. Reinsurance for aviation risks is provided for the first time in 1919.

1912 – Business in Japan

Munich Re concludes a reinsurance contract with Nippon Fire Insurance Company in Japan.

1913 – The Main Building is completed

A total of 350 employees work in six separate buildings, which does little for efficiency. Munich Re acquires a plot of land in Königinstrasse and staff move into the new building on 20 March 1913.

1914 – The war years (I)

Trading-with-the-enemy laws virtually rule out any business contacts with the German Reich. Holdings in foreign companies are also affected by this legislation. Countless reinsurance treaties are annulled, companies in foreign countries wound up. Nevertheless, business during the war is maintained at a relatively stable level, not least because of the good relations Munich Re has cultivated with its business partners abroad.

1916 – Life insurance for everyone

Life insurance has so far been reserved for those who are in good health. 1916 sees the creation of a department dealing with “substandard” risks. The records compiled by Munich Re and other insurers are used to develop a risk assessment system. Today, Munich Re’s mortality tables are the standard for rating life insurances.

1916 – The Bergen fire

A blaze rages in Bergen, Norway from 15 to 17 January. Munich Re suffers a loss of 3.5 million Norwegian kroner or 5.25 million marks. After San Francisco, the Bergen fire is the largest fire loss the company has suffered to date, and the greatest fire catastrophe in its European business.

1917 – Founding of Hermes AG

On 18 December, Munich Re and Globus Versicherungs-AG found Hermes AG, the credit insurer.