About registered shares and our shareholders' register
Our registered shares
We have issued registered shares since Munich Re's foundation in 1880.
This type of share is in widespread use internationally and is standard in countries like the USA. It offers substantial benefits to both shareholders and the company. For shareholders, it means that we can inform them directly, swiftly and extensively about our Group and our current activities and can invite them personally to our AGM. The lively response we have experienced via our website feedback and our shareholder hotline has repeatedly shown that our shareholders are very interested in this direct contact with the company.
Our shareholders' register
In contrast to bearer shares, registered shares are recorded in their owner's name in the shareholders' register, along with his or her place of residence and profession. Under German stock company law only those holders of registered shares are recognized as shareholders of the company who are entered as such in the register. This is of significance for such matters as the exercising of voting rights at AGMs. Munich Re's register of shareholders is kept electronically. Acquisitions and disposals of shares are reported to the company by the shareholder's depositary bank electronically as well. It goes without saying that the company adheres strictly to data protection regulations in keeping the register.
Munich Re registered shares are restrictedly transferable, i.e. they can only be transferred with the approval of the company. This approval does not lead to any delays in the entry of the shares in the shareholders' register, however, and there has not been a single case of the company refusing its consent to such a transfer in recent decades.
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