Coronavirus: Impact on Great Lakes

2020/03/23

Since the World Health Organization declared the outbreak of the coronavirus to be a pandemic, the world has been in a state of emergency. The drastic measures taken by the affected countries to contain this pandemic underline the seriousness of the situation – for societies, the economy, and every individual.

As a globally active company, we too are following the current developments with concern, but without panic. Our thoughts are particularly with all those directly affected, because the illness and especially the loss of a loved one of course far outweighs any potential financial consequences. Our top priority in these times is the protection of our staff and our business partners. We have therefore adopted strict regulations to keep the risk of infection as low as possible. These include, among other things, a moratorium on business trips, the introduction of flexible split-office or home-office arrangements, cancellations of personal meetings and event attendance, and strict restrictions on access to our buildings.

At the same time, in the interests of all our stakeholders, we are ensuring that our operations and business activities can be maintained as fully as possible. Although the exact effects of the situation cannot yet be predicted, there are no grounds for concern about the stability of our company. The Group’s economic position remains strong even in the current circumstances. Great Lakes and Munich Re will be able to withstand the financial burden of this pandemic.

For more information please visit the Corporate News on Coronavirus of Munich Re.

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