references to primary sources . please improve this by adding secondary or tertiary sources . october 2015 learn how and when to remove this template message munich re group m nchener r ckversicherungs gesellschaft ag type aktiengesellschaft fwb muv2 industry financial services founded april 19 1880 ; 136 years ago 1880 04 19 headquarters munich germany area served worldwide key people nikolaus von bomhard ceo and chairman of the executive board bernd pischetsrieder chairman of the supervisory board products reinsurance primary insurance asset management revenue 50.4 billion 2015 1 operating income 4 819 million 2015 1 total assets 276.5 billion 2015 1 total equity 30.8 billion 2015 1 number of employees 43 554 2015 1 website munichre.com munich re group or munich reinsurance company german m nchener r ck ; m nchener r ckversicherungs gesellschaft is a reinsurance company based in munich germany . it is one of the world s leading reinsurers . 2 ergo a munich re subsidiary is the group s primary insurance arm . munich re s shares are listed on all german stock exchanges and on the xetra electronic trading system . munich re is included in the dax index at the frankfurt stock exchange the euro stoxx 50 and other indices . contents 1 history 2 structure 2.1 reinsurance 2.2 primary insurance ergo group 2.3 asset management 2.4 munich health 3 ownership 3.1 subsidiaries 4 key figures 5 munich re foundation 6 references 7 external links history edit main building with courtyard on k niginstra e in 1880 carl von thieme a native of erfurt whose father was the director of thuringia founded m nchener r ckversicherungs gesellschaft together with wilhelm von finck co owner of the merck finck & co bank and theodor von cramer klett . this was followed by the founding of allianz versicherungs gesellschaft in 1890 . carl von thieme was head of munich re until 1921 and wilhelm von finck served as chairman of the supervisory board until 1924 . munich re became renowned after the san francisco earthquake of 1906 as the only insurer that remained solvent after paying out all the claims . in 2015 the company s equity amounted to 31.0 billion . the group s premium income for the year gross premiums written was 50.4 billion with its consolidated result amounting to 3 122 million . 1 in february 2010 u.s. investor warren buffett became munich re s largest single shareholder of the company . 3 as of december 2015 he reduced his holdings to less than 3 percent . 4 structure edit munichre courtyards besides its reinsurance business the munich re group also transacts primary insurance business through the ergo group and since 1999 asset management through meag munich ergo assetmanagement gmbh . reinsurance edit munich re has clients insurance companies worldwide . it assumes part of the risk covered by these insurance companies as well as providing comprehensive advice on insurance business . in addition to its munich head office munich re has more than 50 business units around the world . munich re provides reinsurance cover for life health casualty transport aviation space fire and engineering business . in 2015 gross premiums written in the reinsurance segment amounted to around 28.2 bn . 1 primary insurance ergo group edit walking man by jonathan borofsky in front of the business premises on munich s leopoldstra e munich re s primary insurance operations are mainly concentrated in the ergo insurance group . ergo writes all types of life and health insurance and most types of property and casualty insurance . outside germany ergo is present in more than 30 countries around the world servicing around 35 million clients . members of the ergo group include the insurance subsidiaries d.a.s. dkv and europ ische reiseversicherung ag and the it service provider itergo . with a gross premium written of about 16.5 bn in 2015 ergo is germany s second largest primary insurance group following allianz ag . 1 asset management edit founded in 1999 meag munich ergo assetmanagement gmbh manages the assets of munich re ergo and external clients . their purpose is to manage and increase investments of munich re and ergo and third parties . meag manages munich re s global investments amounting to 227bn . 5 munich health edit until the end of 2009 this segment of the company was under reinsurance and primary insurance however since the beginning of 2010 it is the company s fourth major division . it oversees all of the group s health reinsurance health primary insurance business as well as managed care services business abroad outside of germany . munich health reinsurance coupled with mednet managed care services arm of munich health 6 have been distinguished by mena insurance award menair as most innovative reinsurer for the year 2015 and tpa of the year 2015 . 7 ownership edit blackrock m nchen 6.6 % free float is stated to be nearly 100 % with around 200 000 shareholders february 2016 . 8 shareholder profile 8 institutional investors 74.7 % private shareholders 16.3 % investment companies 7.9 % insurance companies 0.1 % banks 1.0 % most shareholders are located in germany around 37.2 % followed by north america 26.1 % other european countries 23.2 % uk 12.9 % other countries 0.6 % . 8 subsidiaries edit munich reinsurance america american modern insurance group hartford steam boiler inspection and insurance company key figures edit accounts prepared according to ifrs . key figures munich re 1 year 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 gross premiums written bn 38.2 37.4 37.3 37.8 41.4 45.5 49.5 52 51.1 48.8 50.4 operating result m 4 156 5 877 5 573 3 834 4 721 3 978 1 180 5 350 4 409 4 027 4 819 taxes on income m 1 014 1 648 801 1 372 1 264 692 552 866 108 312 476 consolidated result m 2 751 3 519 3 923 1 579 2 564 2 422 712 3 211 3 342 3 171 3 122 investments bn 177.2 176.9 176.2 174.9 182.2 193.1 201.7 213.8 209.5 218.9 215.1 technical provisions bn 154.0 153.9 152.4 157.2 163.9 171.1 181.2 186.1 187.7 198.4 198.5 equity bn 24.3 26.3 25.3 21.1 22.3 23.0 23.3 27.4 26.2 30.3 31.0 return on equity % 12.5 14.1 15.3 7.0 11.8 10.4 3.3 12.6 12.5 11.3 10.0 number of employees as of 31 . december 37 953 37 210 38 634 44 209 47 249 46 915 47 206 45 437 44 665 43 316 43 554 munich re foundation edit the munich re foundation is a charitable organisation which was founded by munich re ; the foundation started its work on 7 april 2005 . the foundation is equipped with a capital of 50 million and works predominantly in newly industrializing and developing countries . the main topics of the foundation are environmental and climatic changes microinsurance and poverty reduction water as a resource and risk factor disaster prevention . the prime concern of the foundation is to develop solutions for people at risk . the knowledge of munich re s experts should therefore be translated into action . hence the working motto of the foundation is munich re foundation from knowledge to action . the main activities of the foundation concentrate on four fields knowledge accumulation and implementation clarification and sensitisation networking of experts as well as direct help and support of local projects . the foundation works with local national as well as international partners . the majority of projects fit within a global framework . since adaptation to climate and environmental change is much more difficult for poorer countries the focus of the foundation is primarily on people in the developing world . references edit a b c d e f g h i munich re annual report 2015 . aglionby john 3 may 2009 . munich re pilots jakarta flood policy . financial times . retrieved 2009 05 09 . warren buffett now munich re s biggest shareholder . finanz nachrichten . afx news . 12 february 2010 . retrieved 17 november 2011 . http www.munichre.com en ir publications notifications notifications 2015 index.html http www.munichre.com en media relations publications press releases 2015 2015 03 11 press release index.html http mednet mea.com company profile . vpotepmueso http www.saudigazette.com.sa index.cfm method home.regcon & contentid 20150216233937 . missing or empty title help dead link a b c shareholder profile . munich re . retrieved 17 march 2016 . external links edit official website topics online re magazine for insurers yahoo m nchener r ckversicherungs gesellschaft aktiengesellschaft company profile companies portal v t e euro stoxx 50 companies of the euro area last update october 2015 air liquide airbus group allianz anheuser busch inbev asml holding assicurazioni generali axa banco bilbao vizcaya argentaria banco santander basf bayer bmw bnp paribas carrefour saint gobain daimler ag deutsche bank deutsche post deutsche telekom enel engie sa eni e.on essilor international fresenius se groupe danone iberdrola inditex ing group nv intesa sanpaolo l or al lvmh mo t hennessy louis vuitton m nchener r ckversicherungs gesellschaft nokia orange s.a. philips electronics safran sanofi sap se schneider electric siemens soci t g n rale sa telefonica total s.a. unibail rodamco unicredit unilever vinci sa vivendi volkswagen group v t e dax companies of germany adidas allianz basf bayer beiersdorf bmw commerzbank continental daimler deutsche bank deutsche b rse deutsche post deutsche telekom e.on fresenius fresenius medical care heidelbergcement henkel infineon technologies k s linde lufthansa merck munich re rwe sap siemens thyssenkrupp volkswagen vonovia v t e major insurance and reinsurance companies insurance composite aegon ageas aig allianz allstate aon aviva axa china pacific insurance china taiping generali ing japan post insurance national mutual insurance federation of agricultural cooperatives ping an insurance prudential plc pzu state farm insurance the hartford unipol unipolsai usaa vienna insurance group zurich insurance group farmers insurance group general insurance berkshire hathaway bnp paribas bradesco seguros direct line group hyundai marine & fire insurance if p & c insurance insurance australia group liberty mutual mapfre ms & ad insurance group picc qbe insurance rsa insurance group samsung fire & marine insurance sompo japan tokio marine travelers xl group life insurance aia aviva bupa china life cnp assurances dai ichi life great eastern jackson legal & general lic india lincoln manulife financial meiji yasuda life metlife new york life nippon life northwestern mutual old mutual phoenix group prudential financial samsung life scottish widows standard life sumitomo life sun life swiss life taikang life reinsurance gen re hannover re lloyd s of london munich re reinsurance group of america scor swiss re xl group methodology applicable fy2013 14 revenues of over us 3 billion v t e present international credit insurance & surety association icisa members ace usa united states acredia versicherung ag ex prisma austria afianzadora latinoamericana argentina amlin bermuda arch re europe ireland argo surety united states askrindo indonesia aspen re europe switzerland atradius netherlands axa assurcredit france axa winterthur switzerland axis re ireland catlin re switzerland cesce spain china national investment & guaranty company china china pacific insurance co. ltd china chubb united states clal israel coface france cosec portugal cgic south africa credimundi ex ducroire delcredere belgium ecics singapore endurance switzerland euler hermes france fianzas atlas mexico garant austria the guarantee company of north america canada groupama assurance cr dit france hannover re worldwide hcc international uk icic israel liberty mutual usa lombard insurance company south africa mitsui sumitomo japan munich re worldwide nationale borg netherlands novae group plc uk partner re worldwide picc china ping an p & c china qatar re qbe insurance australia r v re germany sace bt italy scor global p & c se worldwide seoul guarantee insurance company korea sid first credit slovenia sompo japan japan swiss re worldwide tokio marine & nichido fire japan travelers insurance usa tryg garanti denmark zurich insurance group zurich insurance plc niederlassung f r deutschland