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Summary<br />

Mid-term<br />

targets<br />

Backup<br />

Value-adding integrated business model<br />

covers full value chain of risks<br />

Diversification and sophisticated asset asset-liability liability management<br />

are cornerstones of our strategy<br />

Excellent financial strength<br />

allows participation in market opportunities<br />

Capital management and cycle management<br />

are key to our future success<br />

Current market developments provide<br />

unique q opportunity pp y<br />

Aim to achieve<br />

>€18 EPS in 2010<br />

<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />

Clear commitment to RoRaC target<br />

at least 15% over the cycle<br />

<strong>Group</strong> 14<br />

<strong>Re</strong>insurance 28<br />

Primary insurance 40<br />

International health 45<br />

Financial reporting Q1–2 2008 46<br />

<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />

12<br />

<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />

13

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