Munich Re – 125 years: Munich Re Foundation finances UN Chair and promotes international research, with focus on disaster prevention
"In its 125-year history, Munich Re has developed a unique fund of knowledge, which we now want to utilise even more widely for the benefit of society. This accords with our understanding of social responsibility," said Nikolaus von Bomhard, Chairman of Munich Re's Board of Management, on the occasion of the company's anniversary.
"From Knowledge to Action" – Under this motto Munich Re is intensifying its efforts on behalf of people who are insufficiently prepared for risks due to population development, urbanisation, water scarcity, and climate and environmental changes. And it is to this end that Munich Reinsurance Company has set up the Munich Re Foundation with a capital of €50m.
The first project to be financed by the foundation will be a Foundation Chair at the Institute for Environment and Human Security, which was opened in Bonn last summer and is part of the United Nations University. With its headquarters in Tokyo, the UN University contributes especially to promoting knowledge in developing countries.
The Foundation Chair, to be financed by the Munich Re Foundation over a period of five years, will devote itself to fundamental questions: How does vulnerability to losses vary from culture to culture? How do people in different cultural circles deal with risks and disaster prevention? The research results will form an important basis for improving existing disaster prevention and tailoring it to the needs of people in different cultures.
The Munich Re Group
The Munich Re Group operates worldwide, turning risk into value. Its premium income currently amounts to approximately €38bn and its investments to around €178bn. One of the Group's focal points is reinsurance, which accounts for some 54% of its premium income; as the world's leading reinsurer, Munich Re and its subsidiaries are represented in more than 30 countries. The second focus of its business is primary insurance, from which it derives around 46% of its premium income; Munich Re is the second-largest provider in Germany through the ERGO Insurance Group. The Munich Re Group is also active in asset management: MEAG MUNICH ERGO AssetManagement GmbH has assets of €142.2bn under management for the Munich Re Group.
(Status: 31 December 2004)
signed von Bomhard signed Küppers
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