Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
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Backup: <strong>Re</strong>insurance<br />
<strong>Re</strong>insurance property-casualty<br />
Maximising profits in cyclical business environment<br />
Cycle management with CR 97% over the cycle<br />
<strong>Munich</strong> <strong>Re</strong>'s p-c market share and the cycle<br />
14%<br />
12%<br />
10%<br />
8%<br />
6%<br />
4%<br />
2%<br />
0%<br />
0<br />
92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07<br />
<strong>Munich</strong> <strong>Re</strong> p-c market share CBS Non-Marine Index (1997 = 100)<br />
Source: <strong>Munich</strong> <strong>Re</strong> Economic <strong>Re</strong>search. 2006/07 index estimated by <strong>Munich</strong> <strong>Re</strong><br />
Backup: <strong>Re</strong>insurance<br />
200<br />
180<br />
160<br />
140<br />
120<br />
100<br />
80<br />
60<br />
40<br />
20<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
OBJECTIVE<br />
RoRaC<br />
at least 15%<br />
+<br />
Combined ratio<br />
97% over the cycle<br />
STRATEGY<br />
Unbiased evaluation of risk and price<br />
Leverage competitive position<br />
Active portfolio steering<br />
Develop less cyclical segments<br />
Strong commitment to cycle and capital management supports ambitious targets<br />
<strong>Re</strong>insurance property-casualty<br />
Product maturity is driving respective business model<br />
Product life cycle – Examples<br />
Product<br />
maturity<br />
Financial institutions risks<br />
Enterprise risks<br />
Agro g<br />
Insurance-linked securities<br />
<strong>Re</strong>takaful<br />
Micro(credit)insurance<br />
"Seed" "Grow"<br />
Tailor-made solutions for<br />
emerging risks, driven by<br />
actuarial knowledge and<br />
conceptual capability<br />
Insurance concepts either<br />
cover risks in buoyant<br />
business sectors<br />
(e.g. construction) or<br />
target potentially uninsured<br />
markets (e.g. agro)<br />
Engineering<br />
"Harvest"<br />
Space<br />
Standardisation<br />
Integrated reinsurance and<br />
service capacity is<br />
provided to professional<br />
clients to optimise their<br />
capital and business<br />
efficiency<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
30<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
31
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