Munich Re to sell Karlsruher Insurance Group

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10 October 2005 | Group

Press release

Munich Re to sell Karlsruher Insurance Group to Württembergische Leben

Munich Re and Württembergische Leben have agreed on the sale of the Karlsruher Insurance Group. As a result, Munich Re will sell its 90 %-plus stake in Karlsruher Leben to Württembergische Leben. The Karlsruher Insurance Group's parent company also controls Karlsruher Hinterbliebenenkasse and a property insurance group consisting of Karlsruher Versicherung, Karlsruher Beamten-Versicherung and Karlsruher Rechtsschutzversicherung. Both sides have agreed to maintain silence regarding the purchase price.

For Munich Re, the aim was to find a future-oriented solution for all parties concerned. The overall concept of the offer made by Württembergische Leben was convincing. With this new partnership between Württembergische Leben and Karlsruher Leben, a new group emerges which, by combining the shared strengths of the two companies, has a greater competitive edge and thus advances to Germany's top ten insurers both in life and in property-casualty business.


Disclaimer
This press release 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.


Note for editorial departments:
In case of enquiries, please contact Rainer Küppers on +49 (89) 38 91-25 04 or Regine Kaiser on +49 (89) 38 91-27 70.

Munich, 10 October 2005

Münchener Rückversicherungs-Gesellschaft
signed Dr. Hasford           signed Küppers

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