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Acquisitions and Divestments

This page provides an overview of the most important acquisitions and divestments of recent years involving Munich Re. You can obtain further information on the individual transactions from the relevant press releases.
An overview of important participations is provided in our annual report.

Acquisitions and Divestments
Year Transaction Link
2012 ERGO and Avantha will launch life insurance company in India
2012 ERGO sells South Korean subsidiary Daum Direct
2012 ERGO launches start-up of life insurance company in China
2011 Volksbank sector extends cooperation with ERGO
ERGO buys VBAG’s insurance participation
2011 ERGO sells Victoria Seguros
2011 Italian supervisory authority approves sale of DKV Salute to RBHold
2011 ERGO signs joint venture agreement in China and acquires stake in an insurance company in Vietnam
2010 Munich Re agrees to terms for acquisition of Windsor Health Group, Inc.
2009 ERGO and Arcandor affirm sales partnership and realign subsidiaries
2008 Munich Re agrees to terms for acquisition of AIG subsidiary Hartford Steam Boiler
2008 ERGO takes over remaining shares of Turkish ERGOISVIÇRE
2008 ERGO reorganises Italian activities – merger of ERGO Previdenza and tender offer to minority shareholders
2008 ERGO agrees on life insurance joint venture in India with HERO Group
2008 Munich Re Group expands MGA (Managing General Agency) business: Acquisition of the Roanoke Companies Inc.
2008 Vienna Insurance Group and ERGO Versicherungsgruppe:Wiener Städtische sells shares in Bank Austria Creditanstalt Versicherung AG.
2007 Munich Re concludes agreement to acquire US healthcare insurer Sterling Life Insurance Company.
2007 ERGO announces acquisition of South Korean insurer Daum Direct.
2007 Munich Re acquires Allfinanz, a leading provider of software for life insurance companies.
2007 HDFC Ltd. and ERGO agree on general insurance joint venture.
2007 Munich Re acquires UK company MSP Underwriting Ltd.
2007 Munich Re concludes agreement to acquire specialist US primary insurer The Midland Company (Midland).
2007 Munich Re Group: Munich Re America HealthCare and Cairnstone Solidify Relationship Through Purchase Agreement.
2007 Munich Re buys Bell & Clements Group
2007 Wiener Städtische Versicherung AG Vienna Insurance Group and ERGO Versicherungsgruppe:Merger of UNION Versicherungs-AG und BA-CA Versicherung AG
2006 MEAG goes to China
2006 D.A.S. subsidiary established in Estonia
2006 Apollo Hospitals Group and DKV partner to form a Health Insurance Company in India
2006 ERGO acquires majority of shares of Turkish insurer Isviçre
2006 Munich Re sets up new life reinsurance company in Moscow
2005 Munich Re to sell Karlsruher Insurance Group to Württembergische Leben
2005 Munich Re Group accepts UniCredit's exchange offer for its shares in HypoVereinsbank
2005 ERGO and SNS REAAL Group sign a Memorandum of Understanding for the acquisition of Nieuwe Hollandse Lloyd
2004 DKV participates in new health insurance company in the growth market of China. » ERGO press release of 18 November 2004 (PDF, 18 KB)
2004 DKV acquires GLOBALE Health Insurance and Zurich Health Insurance. » DKV press release of 31 March 2004 (German version only) (PDF, 50 KB)
2004 Munich Re uses HVB capital increase to further reduce its commitment in the financial services sector. » Press release of 26 February 2004
2003 ERGO Insurance Group increases its stake in Austrian insurer UNION Versicherung, Vienna, from approx. 33.3% to 45%.
2003 ERGO and Menzis talk about sale of Dutch health insurer.
2003 Munich Re sells its stake in Hypo Real Estate Holding AG, Munich. » Press release of 2 October 2003
2003 Munich Re and Allianz decide to reduce their reciprocal shareholdings further to around 15%. » Press release of 20 March 2003
2002 Munich Re increases its stake in Nürnberger Beteiligungs-AG, Nuremberg, to approximately 20%. Sale of 12.2% share in Generali Lloyd AG, Munich, to AMB Generali Holding AG, Aachen. » Press release of 17 January 2002
2002 Munich Re and Allianz continue the reorganisation of their shareholdings:
Increase of Munich Re's stake in HypoVereinsbank AG, Munich, by about 16 percentage points to 25.7%
Reduction of shareholding in Allianz to around 21%
Sale of 40.6% stake in Allianz Lebensversicherungs-AG
Increase of interest in ERGO Insurance Group from 62.9% to 91,9%
Transfer to Allianz of just under 10% stake in Dresdner Bank AG, Frankfurt am Main
» Press release of 1 April 2001
2002 Strategic partnership between KarstadtQuelle AG, Essen, and ERGO Insurance Group. In a joint venture, each company takes a 50% stake in KarstadtQuelle Financial Service GmbH, Düsseldorf. » ERGO press release of 14 March 2002 (PDF, 44 KB)
» ERGO press release of 13 March 2002 (PDF, 163 KB, German version only)
2001 ERGO Insurance Group increases interest in Alte Leipziger Europa Beteiligungsgesellschaft to 85.2% by acquiring 25% stake in the Helvetia Patria Group, St. Gall. Munich Re holds the remaining 14.8%. » ERGO press release of 16 January 2001 (PDF, 123 KB)
2001 ERGO Insurance Group acquires shareholding of approx. 70% in Bayerische Vita S.p.A., Milan (2003: Renamed ERGO Previdenza S.p.A.). ) Purchase of 100% stake in Bayerische Assicurazioni S.p.A., Milan (now ERGO Assicurazioni S.p.A.) » ERGO press release of 30 January 2001 (PDF, 101 KB)
» ERGO press release of 1 December 2000 (PDF, 102 KB)
» ERGO press release of 17 August 2000 (PDF, 184 KB)
2000 Acquisition of life insurer CNA Financial Corp., Chicago, by Munich American Reassurance Company, Atlanta. » Press release of 6 October 2000
2000 ERGO Insurance Group acquires 60.13% of Alte Leipziger Europa Beteiligungsgesellschaft from Munich Re, thus obtaining shareholdings in Central and Eastern European insurers:
The most important shareholding is Hestia Insurance, Sopot, which is renamed ERGO Hestia at the end of 2000.
» ERGO press release of 7 September 2000 (PDF, 73 KB)
2000 Munich Re and Allianz decide to reduce their reciprocal shareholdings from 25% to around 20% and to restructure some interests in jointly held companies (completed – with the exception of Mercur Assistance – in 2002):
Allianz acquires Munich Re's stake of 45% in Bayerische Versicherungsbank AG, Munich, and its 49.9% stake in Frankfurter Versicherungs-AG, Frankfurt am Main;
Munich Re increases its interest in Karlsruher Lebensversicherungs-AG, Karlsruhe, by 36.1 percentage points to approx. 90% and in Mercur Assistance, Munich, from 39 percentage points to around 63%.
» Press release of 4 May 2000
2000 Acquisition of 60.13% stake held by Alte Leipziger Holding AG in Alte Leipziger Europa Beteiligungsgesellschaft AG, Bad Homburg. » Press release of 20 April 2000
1999 Munich Re and ERGO Insurance Group set up a joint asset management company named MEAG MUNICH ERGO AssetManagement GmbH, Munich. » Press release of 21 July 1998
1998 Munich Re and Allianz reorganise their shareholdings: Increase of stake in American Re, Princeton, by 6.9 percentage points to 100%
Participation in ERGO Insurance Group raised to 60.6% (plus 6.9 percentage points)
Transfer to Allianz of 15.6 percentage points stake in Allianz of America and just under 3.9 percentage points in Allianz Lebensversicherungs-AG
» Press release of 18 December 1998
1998 Completion of the purchase of Reale Riassicurazioni S.p.A., Turin, simultaneously renamed Torino Riassicurazioni S.p.A. (1999: Merger of Torino Ri into Münchener Rück Italia, Milan). » Press release of 16 July 1998
» Press release of 23 September 1997
1998 Sale of approx. 95% share in Berlinische Lebensversicherungs AG, Wiesbaden, to Commercial Union plc., London. » Press release of 19 May 1998
» Press release of 2 February 1998
1997 Formation of ERGO Insurance Group, Düsseldorf, through merger of the insurance groups VICTORIA, Düsseldorf / D.A.S., Munich, and Hamburg-Mannheimer, Hamburg / DKV, Cologne. » Press release of 3 July 1997
1996 Acquisition of American Re Corporation, Princeton (1997: Merger with Munich American Reinsurance Company, New York). » Press release of 25 November 1996
» Press release of 14 August 1996 (German version only)
1996 Increase of stake in DKV Deutsche Krankenversicherung AG, Cologne, to nearly 100% (plus 51 percentage points) in exchange for transfer of the following shares to Allianz, Munich:
50.3% share in Hermes Kreditversicherungs-AG, Hamburg
Approx. 20% share in Wiener Allianz companies, Vienna
Approx. 50.3% share in Vereinte Krankenversicherung AG, Munich
» Press release of 26 July 1996 (German version only)
1996 Increase of shareholding in Munich American Reassurance Company (MARC Life), Atlanta, to 100% through acquisition of 10% stake from VICTORIA Lebensversicherung AG, Düsseldorf.