Facts and figures

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    Munich Re’s Life and Health business in Canada is written by a well-established, full-service branch within the Munich Re Group. All reinsurance arrangements are supported by the financial strength of the OSFI regulated branch and the BaFin regulated company. This ensures we can deliver our value proposition to our clients, shareholders, and staff for the long term.

    Munich Re, Canada (Life)

    Munich Re, Canada (Life) is a leading reinsurer in Canada, with a significant market position in all lines of Life and Health reinsurance. We service clients across Canada, as well as the Caribbean and surrounding regions, from offices in Toronto and Montreal.
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    OSFI LIFE and LIMAT key figures

    CAD 2022 2021 2020 2019 2018
    Assets m 7,078 7,116 7,485 6,734 6,296
    Investments in Marketable Securities m 6,839 7,511 7,897 7,154 6,954
    Average Investment Quality (S&P) AA AA AA AA AA
    Equity (Head Office A/C & AOCI) m 3,918 3,828 3,794 3,848 3,981
    Equity / Liabilities % 124 116.5 102.8 133.4 172
    LIMAT ¹ % 115 110 120 110 117
    TAAM ¹ % N/A N/A N/A N/A N/A
    1 Test of Adequacy of Assets and Margin (TAAM) was replaced by the Life Insurance Margin and Adequacy Test (LIMAT) by OSFI effective on January 1, 2018. Considering the significant changes between TAAM and LIMAT for capital measurement, the LIMAT ratios are not comparable to TAAM ratios.

    LIMAT disclosures

    In accordance with the Office of the Superintendent of Financial Institutions (OSFI), view our LIMAT Ratios for the previous years below. Branches are required, at minimum, to maintain a Total Ratio of 90%. OSFI has established a supervisory target level of 100% for Total margin. Definition of terms can be found in Guideline A at LICAT – Life Insurance Capital Adequacy Test.

    Munich Re Group Worldwide operations

    Our Canadian business is written by a well-established, full-service branch within the Munich Re Group and supported by the financial strength of the OSFI regulated branch and the BaFin regulated company. Figures are reported by Munich Re's Annual Report.
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    Munich Re Group's ratings and solvency

    Ratings | Outlook

    Rating Agency 2022 2021 2020 2019 2018
    A. M. Best A+ (Stable) A+ (Stable) A+ (Stable) A+ (Stable) A+ (Stable)
    Fitch AA (Stable) AA (Stable) AA (Stable) AA (Stable) AA (Stable)
    Moody's Aa3 (Stable) Aa3 (Stable) Aa3 (Stable) Aa3 (Stable) Aa3 (Stable)
    Standard & Poor's AA- (Stable) AA- (Stable) AA- (Stable) AA- (Stable) AA- (Stable)

    Key figures (IFRS)

    Euro 2022 2021 2020 2019 2018
    Gross Premium Written bn 67.1 59.6 54.9 51.5 49.1
    Consolidated Result bn 3.4 2.9 1.2 2.7 2.3
    Investments bn 219.8 240.3 233.0 228.8 216.9
    Return on Equity¹ % 13.5 12.6 5.3 11.7 8.4
    Equity bn 21.2 30.9 30.0 30.6 26.5
    Market Capitalisation bn 42.6 36.5 34.0 38.0 28.5
    12 Previous years‘ figures adjusted owing to IAS 1

    Annual report 2022

    Learn more about the Munich Re Group in our annual report