Munich Re receives approval for internal model
12:00 AM CET 2015/11/25
Munich. Munich Re has received approval from the Federal Financial Supervisory Authority (BaFin) to use a full internal model from 2016 to calculate regulatory solvency capital requirements under the new Solvency II regulatory regime for the consolidated Group and for select solo undertakings.
As a globally operating (re)insurer, Munich Re began at a very early stage to use an economic approach as the basis for risk modelling. Munich Re has been drawing up and developing its own full internal model for around ten years.
Further details will be presented by Munich Re as part of the “Briefing on Solvency II” for investors and analysts to be held on 30 November 2015 in London. The presentation will also be made available on the Munich Re website (www.munichre.com) from around 10 a.m. CET on 30 November 2015. At the same time, Munich Re will also be releasing a further corporate communication on details of the information presented at the event. Media representatives may tune in to the event by telephone (listen only); a recording will be made available on the Munich Re website (www.munichre.com).
This press release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.