Annual Report 1997/1998 - Munich Re

Munich Re Report of the Board of Management
In credit business we succeeded in expanding our premium volume
both in Germany and abroad. In Germany the rise in the number of
insolvencies continued; development was critical above all in the
construction industry and in certain service industries. Despite this
negative environment, we managed to restore our German credit
business to the profit zone: for the first time for five years the result is
positive again. The experience of our foreign business was also very
satisfactory. The Asian crisis only affected it to a small extent.
For 1998 we expect the premium income for “Other classes of
business” to remain at around the same level. We are anticipating
another satisfying result.
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