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Thomas Wellauer to leave Munich Re’s Supervisory Board

2010/10/01

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    As of 30 September 2010, Thomas Wellauer (55) will cease to be a member of Munich Reinsurance Company’s Supervisory Board. Wellauer, a businessman and member of the Executive Committee of Novartis International AG until 31 January 2010, will become new Chief Operations Officer and Member of the Executive Committee of Swiss Re (Schweizerische Rückversicherungs-Gesellschaft AG) with effect from 1 October 2010.

    Thomas Wellauer has been a member of Munich Re’s Supervisory Board since the Annual General Meeting on 22 April 2009. Hans-Jürgen Schinzler, Chairman of the Supervisory Board of Munich Re, thanked him for his work: “During his term of office on the Supervisory Board of Munich Re, Dr. Wellauer made a valuable contribution thanks to his broad international experience not only in the financial services sector but also in the industrial sector.

    A decision on a successor for Wellauer will be taken at the Annual General Meeting on 20 April 2011 at the latest.

    Munich Re stands for exceptional solution-based expertise, consistent risk management, financial stability and client proximity. This is how Munich Re creates value for clients, shareholders and staff. In the financial year 2009, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €2.56bn on premium income of around €41bn. It operates in all lines of insurance, with around 47,000 employees throughout the world. With premium income of around €25bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients require solutions for complex risks, Munich Re is a much sought-after risk carrier. 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 Germany and Europe. 40 million clients in over 30 countries place their trust in the services and security it provides. In international healthcare business, Munich Re pools its insurance and reinsurance operations, as well as related services, under the Munich Health brand. Munich Re’s global investments amounting to €182bn 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 our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.

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