Dividend Notice 2012

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Shareholders & Service

Annual General Meeting 2012

Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München

– ISIN DE0008430026 (WKN 843 002) –

Dividend Notice

On 26 April 2012, the Annual General Meeting of Münchener Rückversicherungs-Gesellschaft resolved that the net retained profits for 2011 of €1,118,842,577.07 be utilised as follows:

Payment of a dividend of €6.25 on each dividend-bearing share €1,110,188,737.50
Carried forward to new account €8,653,839.57
Net retained profits €1,118,842,577.07

The dividend, which will be subject to deduction of 25% German withholding tax, 5.5% solidarity surcharge on the tax withheld (a total of 26.375%) and, where applicable, also church tax on the tax withheld, will be paid out as from 27 April 2012 as follows:

  • For registered shares held in joint custody in the German giro transfer system, the dividend will be paid via Clearstream Banking AG, Frankfurt am Main, to the shareholders' banks, which will credit the relevant amounts to the shareholders' accounts.


  • Payment for shares still held in certificated form will be made against submission of Dividend Coupon No. 15 to the following paying agent:

    UniCredit Bank AG (formerly: Bayerische Hypo- und Vereinsbank AG) or one of its branches


For shareholders subject to taxation in Germany, the dividend will be paid out without deduction of withholding tax, solidarity surcharge and, where applicable, church tax if they have provided their depository bank with a "Nichtveranlagungsbescheinigung" (certificate from the competent German tax authority confirming that they are not subject to a German tax assessment procedure). The same applies in whole or in part to shareholders who have submitted an exemption application form to their depository bank, provided that the tax exemption amounts allowed for in this application have not already been exhausted by other investment income.

With the deduction of tax, the German income tax for private investment income is deemed to have been paid (introduction of the flat tax rate on 1 January 2009). Independent of this, application may be made to have the dividend assessed together with other investment income if this is likely to lead to a lower individual income tax burden.

For foreign shareholders, the withholding tax and the solidarity surcharge withheld may be reduced pursuant to the existing agreements for the avoidance of double taxation between the Federal Republic of Germany and the respective foreign country. Applications for the refund of withholding tax must be submitted to the German Federal Central Tax Office, 53225 Bonn, Germany, no later than 31 December 2016.

Munich, April 2012

The Board of Management


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