Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
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Backup: <strong>Group</strong><br />
Mergers and Acquisitions 2007<br />
Selective M&A as consistent execution of strategy<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
Segment Target Country Share in % Price <strong>Re</strong>marks<br />
<strong>Re</strong>insurance Bell & Clements<br />
<strong>Group</strong><br />
UK 100% €49m Managing General Agent (MGA)<br />
International<br />
Health<br />
Primary<br />
insurance<br />
The Midland<br />
Company<br />
MSP Underwriting<br />
Ltd.<br />
1<br />
USA 100% USD 1.3bn (€0.9bn) 1 US specialty insurance<br />
UK 100% of MSP,<br />
47.3% of Lloyd<br />
syndicate 318<br />
€74m Lloyd syndicate focused on<br />
international property business<br />
Allfinanz Ireland 100% €49m Leading provider of software for life<br />
insurance companies<br />
Cairnstone Inc.<br />
Sterling Life<br />
Insurance Company<br />
USA From 25% to<br />
100%<br />
€18m Industry leader in US employer stop<br />
loss insurance<br />
USA 100% USD 352m (€243m) Leading provider of health benefits to<br />
Insurance Company US senior market<br />
HDFC General<br />
Insurance Ltd.<br />
Daum Direct Auto<br />
Insurance<br />
1 MG Transport sold for US$ 113m in 2008.<br />
Backup: <strong>Group</strong><br />
India 26% INR 2.35bn (€43m) Non-life insurance joint venture<br />
South<br />
Korea<br />
Mergers and Acquisitions 2008<br />
Selective M&A as consistent execution of strategy<br />
65% €69m Second largest direct motor insurer in<br />
South Korea<br />
Segment Target Country Share in % Price <strong>Re</strong>marks<br />
Primary HERO ERGO Life India 26% INR 520m (€8.8m)<br />
insurance Insurance Company<br />
Ltd<br />
1<br />
Life insurance joint venture<br />
Ltd.<br />
The Roanoke USA 100% USD 52.5m (€34m) Managing General Agent (MGA) and<br />
Companies Inc.<br />
broker focussed on marine insurance<br />
Bank Austria<br />
Creditanstalt<br />
Versicherung<br />
Austria From 29% to<br />
90% 2<br />
Not disclosed Activities in life and non-life insurance<br />
Isviçre Turkey From 75% to<br />
100%<br />
1 Total initial-paid-up capital INR 2,000m (€34m)<br />
2 Other shareholder: Bank Austria Creditanstalt 10%<br />
Not disclosed Offers property/casualty, life and<br />
health insurance<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
20<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
21
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