Munich Re resolves share buy-back

In the period commencing after the 2015 Annual General Meeting and extending up to the 2016 Annual General Meeting, Munich Re intends to buy back up to 11 million shares for a maximum purchase price of €1bn.

On the basis of the authorisation granted by the Annual General Meeting on 30 April 2014 or a future authorisation, Munich Reinsurance Company’s Board of Management has resolved to buy back up to 11 million shares for a maximum total purchase price of €1bn (excluding incidental expenses) in the period between 24 April 2015 and, at the latest, the Annual General Meeting on 27 April 2016. On the basis of the current share price (status: 10 March 2015), this would amount to around 3,1% of the share capital. The own shares acquired under the 2014/2015 share buy-back program in the period from 14 May 2014 to no later than the Company's Annual General Meeting on 23 April 2015 are to be retired.