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Press release

2007/08/21

Reinsurance

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    • Munich Re joins United Nations’ Global Compact initiative

    • Global Compact principles complement Munich Re’s guiding principles for sustainability and code of conduct
       

    The Munich Re Group has joined the United Nations’ Global Compact initiative, which stipulates ten principles to promote international standards for companies and organisations in the areas of human rights, labour, the environment and anti-corruption. In a letter to Secretary-General Ban Ki-moon, Munich Re CEO Dr. Nikolaus von Bomhard has given an assurance that Munich Re will respect and support the principles.

    "For Munich Re, adherence to the highest ethical standards is axiomatic. Being part of Global Compact is a further component in our value management. As a signatory to Global Compact, we thus make it visible to everyone at international level that ethical principles are firmly anchored in the strategy, culture, and daily business of our company", declared von Bomhard. "Global Compact is a worldwide initiative whose significance and international recognition cannot be stressed highly enough."

    Global Compact was launched in 2000 at the initiative of former UN Secretary-General Kofi Annan. Among other things, the ten principles obligate signatories to protect human rights, to prevent forced and compulsory as well as child labour, to promote environmental protection, and to combat corruption. Members of Global Compact include more than 3,800 companies and organisations from more than 100 countries.

    Munich Re is already a member of several selected sustainability intiatives. In April 2006, it was the first German company to sign the UN Principles for Responsible Investment. Munich Re shares are included in the leading sustainability indices, such as the Dow Jones Sustainability Index (DJSI) and the FTSE4Good.

    Münchener Rückversicherungs-Gesellschaft
    signed Dr. von Bomhard           signed Dr. Lawrence

    The Munich Re Group operates worldwide, turning risk into value. In the financial year 2006, it achieved a profit of €3,519m, the highest in its 127-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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