Activities

A brief review

2007

The share buy-back programme 2006 is successfully concluded in February 2007. In line with previous announcements, 8,040,818 repurchased shares are retired in April 2007. This is done without reducing the share capital, which thus continues to total €587,725,396.48 but is now divided up into 221,539,415 shares.

In May, the Board of Management decides on another share buy-back (share buy-back programme 2007). By the AGM in April 2008, own shares with a volume of €2bn are to be repurchased. For the first time, derivatives (sale of put options) are used for buying back shares. A portion of the repurchased shares are retired at the end of June, so that – with the share capital remaining the same – the number of shares decreases further to 217,888,670.

At the beginning of March, the free float increases to 100% after Allianz AG reduces its stake to below 5%.

2006

In November, Munich Re’s Board of Management decides to launch a share buy-back (share buy-back programme 2006), thus availing itself for the first time of the authorisation granted by the AGM in accordance with Section 71 para. 1 item 8 of the German Stock Companies Act. By the AGM in April 2007, own shares with a volume of up to €1bn are to be repurchased via the stock exchange.

2005

Shareholders will have their own shareholder portal on the internet. The service pages offer, among other things, the option of viewing personal data saved in the register of shareholders or to research historical share prices as well as other information in connection with Munich Re shares.

Our free float rises to over 90%. Our commitment to sustainability also has an impact on the investment side: Around 2% of our shares are now held by so-called SRI or socially responsible investors.

2004

Shareholders may register on the internet to have AGM documents sent to them electronically. From 2005 registered shareholders will receive their invitation to the AGM by e-mail and can complete their registration online.

2003

The capital increase was very well received, 99.9% of the subscription rights having being exercised. The subscription ratio was two for seven. The share capital increased by €130,337,141.76 or by 50,912,946 shares.

Following the reduction in our reciprocal shareholdings with Allianz and HypoVereinsbank, the free float rose to just under 75%.

2002

The 1998/2002 warrants come to a successful conclusion. With an exercise rate of 99.86%, they record a similarly positive performance to that of their predecessor, the 1994/98 warrants.

The whole 2002 AGM can be followed by Munich Re shareholders live online.

2001

Munich Re shareholders are able to register for the AGM directly via the Internet for the first time. They can use this channel to order admission cards or — if they do not wish to attend the meeting in person — to authorize company-appointed proxies to vote in accordance with their instructions.

2000

The share restructuring measures are successfully completed; only one category of Munich Re share is now listed on the stock exchange — the Munich Re registered share with the securities reference number WKN 843 002.

1999

Once registered shares are fully paid up, there is a 1:2 stock split. Afterwards, registered and bearer shares are converted into no-par-value shares.

The company's share capital is converted to euros.

The simplification of the company's share structure begins with an attractive offer for the conversion of bearer shares into registered shares.

Munich Re is included in the European indices Euro STOXX 50 and STOXX 50.

1998

The business year is converted to a calendar-year basis and consequently there is a short business year from 1 July to 31 December 1998.

Owing to the success of the warrants 1994/98, the new shares in the 1998 capital increase are again issued with warrants (1998/2002) attached.

1997

We offer the possibility of cost-efficient collective custody of registered shares in the German giro transfer system.

The 1:10 stock split improves the handling of the shares.

1996

Our registered shares are included in the DAX 30.

1994

The new shares in the 1994 capital increase are issued — for the first time — with warrants for further Munich Re shares.