Amwal Al Ghad English - 2013-03-13 10:50:37
Following the pleasing result for 2012, Munich Re is aiming for a profit of close to €3bn for the current year. CEO Nikolaus von Bomhard was optimistic about the further development of the Group’s business as well. For the past financial year, as already announced and subject to the approval of the Annual General Meeting, Munich Re intends to pay a substantially increased dividend of €7.00 (6.25) per share in April 2013.
Looking back at the 2012 financial year, CEO Nikolaus von Bomhard said: “With a profit of €3.2bn, we achieved a very good result. This was chiefly due to our identifying and exploiting profitable business opportunities, backed by the solid foundations of our proven risk management and disciplined underwriting.” Von Bomhard emphasised: “The Supervisory Board and the Board of Management want Munich Re’s shareholders to participate in its success through a higher dividend, which – subject to approval by the Annual General Meeting – will rise to €7.00 per share.”
Von Bomhard was optimistic regarding 2013: “Even though the consolidation of state finances and high unemployment will result in slower economic momentum in many industrialised countries, we remain optimistic for our business. For 2013, we are aiming for a result of close to €3bn.”
At its meeting yesterday, Munich Re's Supervisory Board decided not to renew the contract of Wolfgang Strassl, member of the Board of Management responsible for Munich Health and Human Resources. The Supervisory Board wishes to thank Wolfgang Strassl for his many years of service in the Group, acknowledging his contribution and great commitment to Munich Re. His functions on the Board of Management will be split: Nikolaus von Bomhard will take charge of Munich Health, initially together with Wolfgang Strassl, and then alone with effect from 1 January 2014. Responsibility for Human Resources and the function of Board member responsible for personnel and welfare matters will be assumed by Joachim Wenning as from 1 October 2013, in addition to his responsibility for life reinsurance business.
Summary of the figures for the financial year 2012 More»