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New Chief Risk Officer: Joachim Oechslin

2007/04/18

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    Charlie Shamieh, Munich Re's Chief Risk Officer (CRO), will shortly be relinquishing his position for family reasons and leaving Munich Re by amicable agreement in order to continue his career in the United States. He will be succeeded by Joachim Oechslin, currently Deputy CRO of the AXA Group in Paris and previously CRO of the Winterthur Group.

    Nikolaus von Bomhard, Chairman of Munich Re's Board of Management: "We fully understand Charlie Shamieh's decision, but regret his departure. He has done a great job, energetically advancing our Group's integrated risk management with his team. In Joachim Oechslin, we are delighted to have found a successor who will maintain the high standard already achieved in this area."

    Münchener Rückversicherungs-Gesellschaft
    signed Dr. Schneider           signed Dr. Lawrence

    The Munich Re Group operates worldwide, turning risk into value. In the business year 2006, it achieved a profit of €3,536m, the highest in its 126-year corporate history. In 2006, its premium income amounted to approximately €37bn and its investments to around €177bn. The Group is characterised by particularly pronounced diversification, client focus and earnings stability. It has approximately 37,000 employees in over 50 locations throughout the world and operates in all lines of insurance. With premium income of around €22bn in the year 2006 from reinsurance alone, it is one of the world's leading reinsurers. Its primary insurance operations are mainly concentrated in the ERGO Insurance Group; it is the second-largest provider in the German primary insurance market and a leading player in the European insurance market in health insurance and legal expenses cover. The ERGO Insurance Group is present in 25 countries, and 33 million clients place their trust in the services, competence and security it provides.
    Disclaimer
    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 Munich Re. The company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.

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