Munich Re Group Changing Gear gg
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Backup: Financial reporting Q1–2 2008<br />
Key figures Q1–2 2008 – Overview<br />
Satisfactory result impacted by capital markets<br />
GROUP<br />
Gross premiums written<br />
€m<br />
Q1 Q1–2 2<br />
2007<br />
Q1–2<br />
2008<br />
18,928<br />
18,857<br />
FX-driven decline in reinsurance<br />
offset by growth from acquisitions<br />
GROUP<br />
Investment result<br />
€m<br />
Q1–2<br />
5,646<br />
2007<br />
Q1–2<br />
3,263<br />
2008<br />
Significant impairments of<br />
equities and lower realised gains<br />
1 Incl. legal expenses.<br />
Backup: Financial reporting Q1–2 2008<br />
€m<br />
<strong>Re</strong>insurance<br />
life and health<br />
REINSURANCE<br />
Combined ratio property-casualty<br />
%<br />
Q1 Q1–2 2<br />
98.4<br />
2007<br />
Q1–2<br />
99.6<br />
2008<br />
Favourable combined ratio of<br />
95.4% in Q2<br />
GROUP<br />
Operating result<br />
€m<br />
Q1–2<br />
2007<br />
2,848<br />
Q1–2<br />
2008<br />
2,174<br />
Satisfactory underwriting result<br />
%<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
PRIMARY INSURANCE<br />
Combined ratio property-casualty 1<br />
Q1 Q1–2 2<br />
2007<br />
93.3<br />
Q1–2<br />
2008<br />
91.0<br />
Clearly below target of 95%<br />
GROUP<br />
Consolidated result<br />
€m<br />
Q1–2<br />
2007<br />
Q1–2<br />
2008<br />
2,132<br />
1,406<br />
<strong>Re</strong>duction owing to declining<br />
investment result<br />
Key figures Q1–2 2008 – Operating and consolidated result<br />
Satisfactory underwriting influenced by declining investment result<br />
<strong>Re</strong>insurance<br />
property-casualty<br />
<strong>Re</strong>insurance<br />
sub total<br />
Primary insurance<br />
life and health<br />
Primary insurance<br />
property-casualty<br />
Primary insurance<br />
sub total<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> 2<br />
Q1–2 2007<br />
Q1–2 2008<br />
ERGO dividend 1<br />
Operating result<br />
204<br />
243<br />
579<br />
690<br />
406<br />
289<br />
610<br />
532<br />
1,838<br />
1,878<br />
2,417<br />
2,568<br />
2,174<br />
2,848<br />
Consolidated result<br />
99<br />
118<br />
401<br />
551<br />
311<br />
1 Q1–2 2008 incl. dividend from ERGO of €947m (before taxes), thereof RI life and health: €180m, RI property-casualty: €767m.<br />
Q1–2 2007 incl. dividend from ERGO of €114m (before taxes), thereof RI life and health: €23m, RI property-casualty: €91m.<br />
2 Operating result Q1–2 2008 including asset management (€44m, Q1–2 2007 €68m) and consolidation (–€970m, Q1–2 2007 –€247m).<br />
Consolidated result Q1–2 2008 including asset management (€34m, Q1–2 2007 €47m) and consolidation (€–970m, Q1–2 2007 –€247m).<br />
206<br />
410<br />
324<br />
1,521<br />
1,467<br />
1,406<br />
1,922<br />
2,018<br />
2,132<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
46<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
47
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