Munich Re invests in wind energy

2010/12/23

Group

Munich Re, via its asset manager MEAG, has concluded a significant investment deal involving wind power plants in Germany. At the turn of the year, the Group is acquiring 40 wind turbines in a total of 11 wind parks with an overall output of 73 megawatts. The investment for the reinsurance segment in the low three-digit million range is part of the RENT programme (Renewable Energy and New Technologies), through which Munich Re plans to invest up to €2.5bn in renewable energies and new environmental technologies over the next few years.

Nearly all of these wind parks in Thuringia, Brandenburg, Mecklenburg-West Pomerania, Saxony-Anhalt and Lower Saxony are already on the grid. The seller is wpd AG, Bremen, one of the leading project developers and operators in the European wind energy market.

"This acquisition shows how Munich Re can profit from its expertise in the Group. Our scientists determine the meteorological suitability of locations for wind power plants, while our engineers assess the technical aspects of the plants, their risks and performance. We will also use this know-how in the future to build up investments in renewable energies and to achieve attractive returns," said Board member Thomas Blunck, responsible among other things for the reinsurance group's investments.

Munich Re launched the RENT investment programme at the start of the year. The investment volume to date, in the low three-digit million range for insurance and reinsurance, has been limited to photovoltaic panels in Germany and other European countries. Munich Re's asset manager MEAG is responsible for selecting and managing the investments.

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.

Further Information

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en
Michael Able
Media Relations Munich
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Nikola Kemper
Nikola Kemper
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Terese Rosenthal
Terese Rosenthal
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