Münchener Rückversicherungs-Gesellschaft Investor Presentation — March 2017

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Shaping change in insurance

Analysts' conference 2017

Munich , 15 March 2017Image: Getty Images/ fStop2Analysts' conference 20171Shaping change in insurance

Nikolaus von Bomhard 2

Bernhard Kaufmann 224ERGO

5Reinsurance Property -casualty

Joachim Wenning 55Agenda

7Additional information 61Munich Re delivers financial stability

3Analysts' conference 2017IFRS net income

target capitalisationDividend per share1

+4.2%HGB distributable earnings

capital repatriation

One of the lowest in the

insurance industryGoodwill

Moderate in relation to

shareholders ’ equityShaping change in insurance

1 Subject to approval of AGM . Shaping change in insurance –

Seizing long-term opportunities while managing short -term pressure

4Analysts' conference 2017Shaping change in insurance

Macroeconomic/political risks

Persistently low interest rates

Global political uncertaintyDigitalisation

New technologies and partnerships

Dramatically enhanced availability

of data and analysis tools

Changing customer expectationsChanging competitive landscape

Emergence of new players and

Proliferation of “alternative” capital

Transformation of traditional

Dampening volatilityGOAL

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