Munich: a top financial center! - Finanzplatz München Initiative
Munich: a top financial center! - Finanzplatz München Initiative
Munich: a top financial center! - Finanzplatz München Initiative
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<strong>Munich</strong> Financial Center <strong>Initiative</strong><br />
Insurance: a global leader<br />
Home to some 80 insurance companies,<br />
greater <strong>Munich</strong> is one of the world’s leading<br />
<strong>center</strong>s of insurance. The companies<br />
headquartered in <strong>Munich</strong> include Allianz<br />
Group (one of the world’s largest provider<br />
of insurance and asset management<br />
services), <strong>Munich</strong> Re (one of the world’s<br />
largest reinsurers), DAS (Europe‘s<br />
leading provider of coverage for legal<br />
expenses), Versicherungskammer Bayern<br />
(Germany’s largest public sector-owned<br />
insurer); and Bayerische Versorgungskammer<br />
(Germany’s largest public-sector provider<br />
of management and investment services for<br />
providential pension funds).<br />
These companies are joined by the large<br />
number of insurers maintaining offices and<br />
operations in <strong>Munich</strong>. Among them: Swiss<br />
Re, one of the world’s leading reinsurers.<br />
Bavaria’s insurer sector is a major<br />
employer. Of its some 59,000 employees,<br />
31,000 work in greater <strong>Munich</strong>, and<br />
some 13,500 in the state’s other two<br />
insurance <strong>center</strong>s: Nuremberg (home<br />
to such leading insurers as Nürnberg<br />
Versichersgruppe – Germany’s second<br />
largest provider of occupational disability<br />
coverage) and in Coburg (headquarters of<br />
HUKCoburg, one of Germany’s leading<br />
suppliers of automobile insurance).<br />
The insurance industry* Leading companies*<br />
In greater <strong>Munich</strong><br />
Employees: 33,200<br />
Insurance companies<br />
headquartered in region: 60<br />
In Bavaria<br />
Employees: 61,800<br />
Insurance companies<br />
headquartered in state: 80<br />
* figures rounded off and as of 2009<br />
Allianz<br />
Employees worldwide: 155,000<br />
Turnover: 97.5 billion euros<br />
<strong>Munich</strong> Re<br />
Employees worldwide: 47,249<br />
Premium income: 41.4 billion euros<br />
Versicherungskammer Bayern<br />
Employees: 8,528<br />
Premium income: 6.36 billion euros<br />
HUK-Coburg<br />
Employees: 8,497<br />
Premium income: 4.9 billion euros<br />
Nürnberger Versicherungsgruppe<br />
Employees (not counting<br />
external sales force): 4,400<br />
Premium income: 3.3 billion euros<br />
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