Shareholder profile

Shareholder structure in % of share capital:
(Source: Munich Re Shareholders' Register)

Status: 03/2008
Free float: 100.0%
1. Banks: 0.3%
2. Insurance companies(1): 3.3%
3. Investment companies: 10.9%
4. Other institut. Investors(2): 78.4%
5. Private shareholders: 7.1%


Status: 03/2007
Free float: 100.0%
1. Banks: 2.5%
2. Insurance companies: 10.3%
3. Investment companies: 6.5%
4. Other institut. Investors: 73.1%
5. Private shareholders: 7.6%
   

(1) In line with previous announcements, Allianz redeemed the first tranche of its BITES exchangeable bond early with Munich Re shares, which reduced its stake in Munich Re from 9.4% to below 5%.
(2) 5,15% of the share capital are attributable to AllianceBernstein L.P., an asset management firm in USA (as at 26.09.2006) According to the declaration of AXA (AllianceBernstein is appropriate to AXA) the shares are held as pure financial assets and are not considered as core shareholdings. There are no strategic interests.
(3) Stakes of more than 5%, as defined by the most important share indices.
(4) Allianz AG gives a figure of 9.4% under strategic holdings; further 0.4% are attributable to Allianz, but this is not to be evaluated as a strategic holding.

Now Free Float 100%

The number of shareholders entered in our shareholders' register amounts to around 111,000 (March 2008).

The free float — increasingly important for the weighting of our shares in share price indices — has grown significantly since 1999, from 45% to 100% now.