Growth years

Following Dr. Alois Alzheimer’s appointment as Chairman and the resumption of international business, Munich Re began a period of expansion for the third time in its history. The company dedicated itself to building up its international activity. Consultancy services were reinforced using local specialists. Within only three years, business stood at around two-thirds of pre-war levels. New subsidiaries and branches were established in the USA, Canada, Asia and Africa. Horst K. Jannott became Chairman in the late 1960s. He developed the international business and expanded Munich Re’s Head Office.

1950 – Dr. Alois Alzheimer

Dr. Alois Alzheimer takes over as Chairman, remaining in charge until 1969.

1950 – International business grows again

International business is again permitted by law. In the same year, Munich Re concludes the first three post-war treaties with Spanish companies. To stimulate machinery insurance business again, engineers are dispatched overseas to act as advisers and to open doors to enable new treaty business to be acquired. Coordination offices are set up in Asia, Africa and Australia. International business progresses rapidly. In 1951, to exploit business development opportunities abroad to the full, Munich Re structures its consultancy functions by class of business and country.

1953 – Post-war recovery

Munich Re’s business attains two-thirds of its pre-war levels.

1957 – The first issue of Schadenspiegel

The first issue of Schadenspiegel appears in March. To this day, the magazine provides regular reports on current loss events and loss prevention.

1959 – US subsidiary established

Munich American Reassurance Company is established in Atlanta for life reinsurance business in the USA.

1960 – Canadian subsidiary established

Munich Reinsurance Company of Canada is opened in Montreal.

1962 – Storm surge in Hamburg

The storm and flood catastrophe in Hamburg in February 1962 gives rise to the largest losses ever suffered by the German insurance industry as a result of a single loss event. Munich Re is also badly hit, suffering total losses including claims relating to the storms that occurred in the days prior to the loss event of around DM 19m gross, with some DM 13.5m for own account.

1963 – Munich Re reinforces its presence in Asia

With the opening of an office in Hong Kong, Munich Re is more strongly represented in Asia than its competitors.

1967 – First representative office in Japan

Munich Re opens a liaison office in Tokyo which looks after clients in every area of property and life insurance. It is the first representative office opened by a dedicated foreign reinsurer in Japan.

1968 – Munich Re in Africa

MRSA (Munich Re South Africa) is established in Johannesburg. Offices are opened in Cape Town, Durban, Pretoria, Blantyre, Port Louis (Mauritius), Windhoek (Namibia) und Harare (Zimbabwe).

1969 – Horst K. Jannott, architect of the present-day Munich Re

Horst K. Jannott becomes Chairman. Under his leadership, business relationships are built up in Germany and abroad. He can be regarded as the architect of the present-day Munich Re. Today's ensemble of buildings forming the Head Office in the Schwabing area of Munich is one of his legacies.