Benita Ferrero-Waldner appointed to Munich Re’s Supervisory Board

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17 February 2010 | Group

Press release

Benita Ferrero-Waldner appointed to Munich Re’s Supervisory Board

Dr. Benita Ferrero-Waldner (61) is a new member of Munich Re’s Supervisory Board. The Local Court Munich has appointed Dr. Ferrero-Waldner to succeed Supervisory Board member Karel Van Miert, who passed away in 2009.

Dr. Ferrero-Waldner was appointed by the court to sit on the Supervisory Board up to the next Annual General Meeting on 28 April 2010. At its next full meeting, the Supervisory Board will adopt a resolution proposing to the Annual General Meeting to elect Dr. Ferrero-Waldner.

Benita Ferrero-Waldner is a lawyer with extensive international experience gained in key political and economic positions. From 2004 to February 2010, she served as a Commissioner in the European Union. Previously, Dr. Ferrero-Waldner was Minister for Foreign Affairs for the Republic of Austria from 2000 to 2004, following a career in the Austrian diplomatic service and at the United Nations.

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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 2008, the Group – which pursues an integrated business model consisting of insurance and reinsurance – achieved a profit of €1.5bn on premium income of around €38bn. It operates in all lines of insurance, with around 44,000 employees throughout the world. With premium income of around €22bn from reinsurance alone, it is one of the world's leading reinsurers. Especially when clients seek 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 Europe and Germany. It is the market leader in Europe in health and legal expenses insurance. and 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 €175bn are managed by MEAG, which also makes its competence available to private and institutional investors outside the Group.

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.

Munich, 17 February 2010

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