Muenchener Rueckversicherungs-Gesellschaft AG — Earnings Release 2003

Mar 17, 2004

News Details

Ad-hoc | 17 March 2004 08:28

Munich Reinsurance Company: Key figures for the business year 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Munich Reinsurance Company Key figures for the business year 2003: The Munich Re Group’s underwriting business produced a profit of 2.0bn EUR before tax and amortisation of goodwill. This success is mainly attributable to lower combined ratios, which fell to 96.7% in reinsurance and 96.4% in primary insurance. Total gross premiums rose slightly to 40.4bn EUR. Tax expenditure of 1.8bn EUR and the amortisation of goodwill resulted in a consolidated loss of 434m EUR. The after-effects of the weak stock markets prevailing until March 2003 have thus been absorbed. Payment of a dividend of 1.25 EUR per share will be proposed to Munich Re’s Supervisory Board and the Annual General Meeting. Further details regarding reinsurance, primary insurance and investments in the business year 2003 will be available in the press release published immediately after the release of this ad-hoc announcement. Munich, 17 March 2004 Munich Reinsurance Company – The Board of Management end of ad-hoc-announcement (c)DGAP 17.03.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: This announcement contains and refers to statements relating to the future. Such forward-looking statements are based on current expectations, estimates, forecasts and prognoses as well as assessments and assumptions of the management of Munich Reinsurance Company. Such statements contain in particular comments regarding plans, strategies and outlooks. Words such as “expect” and similar forward-looking expressions are no guarantee that events or results will actually materialise in the future and are subject to risks, uncertainties, and assumptions that are difficult to foresee. Therefore, actual consequences and results could deviate substantially from those anticipated in these forward- looking statements. ——————————————————————————– WKN: 843002; ISIN: DE0008430026; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Frankfurt (Prime Standard) und München; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart; EUREX 170828 Mär 04