Group | Reinsurance
- Great interest in Munich Re’s second investors’ day
- Presentation in London of strategy on property-casualty business
- Central topics: Portfolio and cycle management, business opportunities in specialty classes, and innovative products
At its Investors’ Day on Property-Casualty Reinsurance in London, Munich Re will present its strategy for promoting the sustained profitability of property-casualty business in the reinsurance segment. This is the second in a series of investor conferences with which Munich Re seeks to further intensify and strengthen dialogue with its investors.
Munich Re’s business model is solidly based on the excellent knowledge of risk it has built up over many decades, good client relations, and a deep understanding of a wide variety of markets. This enables it to manage the cycle in reinsurance business, systematically conceive new products, further develop existing ones, and adopt a targeted, controlled approach to gaining greater access to business.
Portfolio and cycle management in traditional reinsurance business, the exploitation of business opportunities in specialty areas, and the development of innovative products will be dealt with in depth in three workshops. At the same time, Munich Re will again seek to impress on investors its determination to pursue a strictly profit-oriented business policy with disciplined risk and capital management. One of the key underlining factors is the good combined ratio in property-casualty reinsurance business (with a premium volume of €14.2bn) of 96.4% for 2007 (2006: 92.6%). For 2008, Munich Re reckons with a combined ratio in the order of 98% – including 6.5 percentage points for natural catastrophes – given normal claims experience. The slight increase is essentially due to moderate price falls, about which we already reported on 30 January. On average across the market cycle, the Group is confident of achieving a combined ratio of 97% due to its strong market positioning.
Torsten Jeworrek, Chairman of Munich Re’s Reinsurance Committee: "We have the expertise, specialists and the right processes and systems in place to offer solutions that meet today's and tomorrow's demands on our business. Our insurance and reinsurance set-up allows us to occupy the whole value chain to turn risk into value, for our shareholders, clients and staff."
signed Dr. Jeworrek signed Dr. Lawrence
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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