Munich Re resolves share buy-back

In the period commencing after the 2016 Annual General Meeting and extending up to the 2017 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 23 April 2015 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 28 April 2016 and, at the latest, the Annual General Meeting on 26 April 2017. On the basis of the current share price (status: 15 March 2016), this would amount to around 3,2 % of the share capital. The own shares acquired under the 2015/2016 share buy-back program in the period from 01 June 2015 to no later than the Company's Annual General Meeting on 27 April 2016 are to be retired.