Managing risks more efficiently to create sustained added value" / Chief risk officers (CROs) meet for exchange of views in Munich

Nikolaus von Bomhard, Chairman of the Board of Management, welcomed participants to Munich Re for the second international CRO Assembly, a gathering of leading risk experts from major insurers and other financial service providers: "We insurers have to manage the risks we accept more efficiently in order to give our clients sustained added value. If we are successful in this, we will also meet our shareholders' return expectations better, because the cyclicity of our business will decrease."

Charlie Shamieh, Munich Re's CRO and Head of Integrated Risk Management, added: "Our aim has always been to make integrated risk management a cornerstone of our business. It is the only way to turn risk into value."

The CRO Assembly from 20 November to 22 November 2006 was attended by over 80 risk experts from insurers, banks and industrial firms from more than 20 countries. The meeting, held annually, is organised by the International Association for the Study of Insurance Economics, "The Geneva Association", in collaboration with primary insurers and reinsurers.

Münchener Rückversicherungs-Gesellschaft
signed von Bomhard           signed Küppers