at Königinstr. 107, Munich, 80802 Germany
Munich Re Group is a reinsurance company based in Munich, Germany. It is one of the world’s leading reinsurers. 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.HistoryIn 1880, Carl von Thieme, a native of Erfurt, whose father was the director of Thuringia, founded Münchener Rückversicherungs-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 2014 the company's equity amounted to €30.3 billion. The group’s premium income for the year (gross premiums written) was €48.8 billion, with its consolidated result amounting to €3,171 million.In February 2010, U.S. investor Warren Buffett became Munich Re's largest single shareholder with 11.2 percent of the company. As of February 2015 with he holds 11.6 percent of the company.
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