Auditors Report

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Auditors Report

KPMG Bayerische Treuhandgesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Steuerberatungsgesellschaft duly audited the Company and Group management reports and financial statements as at 31 December 2018 and issued them with an unqualified auditor's opinion.

In the case of German insurance companies, pursuant to Section 341k of the German Commercial Code (HGB), the external auditor is appointed not by the Annual General Meeting but by the Supervisory Board.

Auditor for the audit of Company and consolidated financial statements for the financial year 2020

Against the background of the legally required rotation of auditors, a procedure to select the future auditor in accordance with Article 16(3) first subparagraph of Regulation (EU) No. 537/2014 of the European Parliament and of the Council of 16 April 2014 has been carried out.

On the recommendation of the Audit Committee, the Supervisory Board has selected Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft (EY) for the audit of the company and consolidated financial statements and of the combined management report of Münchener Rückversicherungs-Gesellschaft, Aktiengesellschaft in München and Munich Re (Group) for the financial year 2020.

The invitation for tenders included the audit of the Solvency II balance sheet at Company and Group level, the review of the separate non-financial (Group) report and the review of the condensed interim consolidated financial statements and the interim management report for Munich Re for the first half of the 2020 financial year.

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