New brand and structure for international health business

2009/04/29

Munich Health

Munich Health is the name of the new brand under which Munich Re is now offering its healthcare-sector services to clients and partners throughout the world. Munich Re is thus bringing together under one banner its global insurance and reinsurance know-how, including the related services.

In recent years, the global health market has become one of the fastest-growing sectors of the economy in terms of both insurance and care provision. This trend will become even more pronounced in the future due to advances in medicine and increases in life expectancy. In order to maximise the opportunities this brings, Munich Re has pooled its insurance and reinsurance healthcare specialists in a separate organisation for its business outside Germany under the new brand Munich Health.

In future, more than 5,000 experts at 26 locations worldwide will cooperate even more closely to offer top products and solutions for their clients and partners all over the world. To best meet the often highly diversified needs of clients on a local level, Munich Health has established a decentralised organisation, which is managed from four regional business hubs in Princeton, Abu Dhabi, Singapore and Munich. “We are thus in a position to closely support our some seven million primary insurance clients and over 400 reinsurance clients,” affirms Wolfgang Strassl, CEO of Munich Health.

Besides risk expertise in the international health market, Munich Health has a broad spectrum of service providers and risk carriers. These extend from pure reinsurers and traditional primary insurers to full-range providers of integrated insurance and healthcare services.

For the next ten years, premium and top-line growth averaging 20% annually is still targeted for the Munich Re Group’s third business field alongside reinsurance and primary insurance. In the 2008 financial year, premium income was approximately €2.7bn.

Wolfgang Strassl: “In Munich Health, we have a global team of experts that breaks down traditional boundaries and covers the whole healthcare-sector value chain. That is the key to our success.”

The Munich Re Group operates worldwide, turning risk into value. In the financial year 2008, it achieved a profit of €1,528m on premium income of around €38bn. The Group operates in all lines of business, with around 44,000 employees at over 50 locations throughout the world and is characterised by particularly pronounced diversification, client focus and earnings stability. With premium income of around €22bn from reinsurance alone, it is one of the world's leading reinsurers. The primary insurance operations are mainly concentrated in the ERGO Insurance Group. With premium income of over €17bn, ERGO is one of the largest insurance groups in Europe and Germany. It is the market leader in Europe in health and legal expenses insurance, and 40 million clients in over 30 countries place their trust in the services and security it provides. The global investments of the Munich Re Group amounting to €175bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.
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.

Further Information

For media inquiries please contact:
en
Regine Kaiser
Munich Re Group
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Nikola Kemper
Nikola Kemper
Media Relations Asia Pacific
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Bob Kinsella
Media Relations USA
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+1 609 419 8527
E-Mail
rkinsella@munichreamerica.com
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