Munich Re Group Annual Report 2006 (PDF, 1.8

Munich Re Group Annual Report 2006
Share of reinsurance and primary insurance – Life and health and property-casualty – in Group premium income *
2006
2005
2004
2003
2002
* After elimination of intra-Group transactions across segments.
Reinsurance Primary insurance
68
Management report_Overview and key figures
Reinsurance 55.3% Primary insurance 44.7%
Life and health 18.5% Property-casualty 36.8% Life and health 31.0% Property-casualty 13.7%
Reinsurance 54.1% Primary insurance 45.9%
Life and health 18.2% Property-casualty 35.9% Life and health 32.3% Property-casualty 13.6%
Reinsurance 54.0% Primary insurance 46.0%
Life and health 17.3% Property-casualty 36.7% Life and health 32.4% Property-casualty 13.6%
Reinsurance 56.4% Primary insurance 43.6%
Life and health 14.6% Property-casualty 41.8% Life and health 31.0% Property-casualty 12.6%
Reinsurance 58.6% Primary insurance 41.4%
Life and health 13.9% Property-casualty 44.7% Life and health 29.4% Property-casualty 12.0%
Percentage of premium from foreign business *
2006
2005
2004
2003
2002
17.1%
15.7%
15.8%
13.8%
13.8%
* After elimination of intra-Group transactions across segments.
Reinsurance Primary insurance
Group premium income
82.9%
84.3%
84.2%
86.2%
86.2%
Total 100%
Total 100%
Total 100%
Total 100%
Total 100%
Total 57.3%
Total 54.5%
Total 54.0%
Total 54.8%
Total 56.9%
All figures in €bn 2006 2005 2004 2003 2002
Reinsurance 22.2 22.3 22.4 24.8 25.4
Primary insurance 16.7 17.6 17.5 17.6 16.6
Consolidation –1.5 –1.7 –1.8 –2.0 –2.0
Total 37.4 38.2 38.1 40.4 40.0
Events after the balance sheet date
On 18/19 January 2007, Winter Storm Kyrill crossed central
Europe with wind speeds of well over 100 km/h on a widespread
scale. The countries hardest hit by the storm were
Germany and the UK, but it also affected the Benelux
countries, Austria, Poland, the Czech Republic, and to a
lesser degree Switzerland. The Munich Re expects its
claims costs in primary insurance and reinsurance to
be significantly lower than the €600m before tax originally
anticipated on the basis of initial estimates.
Of the owner-occupied and investment property recognised
in the consolidated balance sheet as “held for sale”,
ownership of items with a carrying amount of €215m had
been transferred by the end of February 2007, realising a
gain on disposal of €294m.
The share buy-back launched in November 2006 was
concluded at the end of February 2007. A total of just over
eight million shares were acquired at an average price of
€124.36, which will be retired prior to the Annual General
Meeting.