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Munich Re welcomes new management organisation in ERGO Insurance Group



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    For the ERGO Insurance Group the new management organisation announced today means clear decision-making responsibility and accountability for its business segments. The Group companies' well-known brand names and their many different sales channels will remain intact. The strategy of a single back office designed to create uniform processes is being consistently pursued. In addition, there will be two new seats on ERGO's Board of Management with overarching corporate responsibilities.

    Nikolaus von Bomhard, Chairman of the Board of Management of Munich Re, welcomes the decision: "ERGO is and remains part of the Munich Re Group. The new management organisation now puts ERGO in a better position to return to sustainably profitable results."

    Notes for editorial departments:
    Further information concerning the structural changes can be obtained from ERGO's own press release. The new management organisation will be explained at a press conference to be held at ERGO's offices in Düsseldorf on 5 April 2004 at 10.30 a.m.

    Münchener Rückversicherungs-Gesellschaft
    signed Dr. von Bomhard          signed Küppers

    This media information 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.

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