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Our business model is based on the combination of primary insurance and reinsurance under one roof. We take on risks worldwide of every type and complexity, and our experience, financial strength, efficiency and first-class service make us the first choice for all matters relating to risk. Our client relationships are built on trust and cooperation.
Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. In the financial year 2017, one of the most loss-affected years in the history of the company, Munich Re (Group) achieved a profit of €392m on premium income of €49.1bn. It operates in all lines of insurance, with more than 42,000 employees throughout the world.
With premium income of €31.6bn from reinsurance alone, Munich Re is one of the world’s leading reinsurers. We offer a full range of products, from traditional reinsurance to innovative solutions for risk assumption. Especially when clients require solutions for complex risks, Munich Re is a much sought-after business partner. Our roughly 12,000 staff in reinsurance possess unique global and local knowledge. Munich Re attaches great importance to its client service, which regularly receives top ratings.
Our primary insurance operations are mainly concentrated in the ERGO Group AG. Worldwide, the Group is represented in over 30 countries and concentrates on Europe and Asia. ERGO offers a comprehensive spectrum of insurance, provision and services. In Germany, ERGO Versicherung AG is one of Germany’s largest providers of property and legal protection insurance. As a specialist in capital-market-oriented insurance, ERGO Vorsorge Lebensversicherung AG is shaping change in the area of private provision and biometric risk products. About 42,000 people work for the Group, either as salaried employees or as full-time self-employed sales representatives. In 2017, ERGO recorded a premium income of €19.0bn.
The Group’s worldwide assets of €217.6bn are managed by MEAG. The quality of our asset management proved its worth during the recent financial crisis, which Munich Re weathered with continued financial strength.
In addition, MEAG also offers its expertise to private and institutional clients. The volume of assets under management amounts to a total of €15.9bn.