Muenchener Rueckversicherungs-Gesellschaft AG — Share Issue/Capital Change 2016

Jun 8, 2016

News Details

Other Capital Market Information | 8 June 2016 13:15

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Release of a capital market information

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Disclosure according to Section 4 para. 2 of Regulation (EC) No. 2273/2003

08.06.2016 13:15

Dissemination of a Post-admission Duties announcement, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München

WKN 843002
ISIN DE0008430026

Disclosure according to Section 4 para. 2 of Regulation (EC) No. 2273/2003

The Board of Management of Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München ('Munich Re') resolved on 16 March 2016 that
up to 11 million Munich Re shares (ISIN DE0008430026) will be acquired for
a maximum total purchase price (excluding incidental expenses) of EUR 1 bn
via the stock exchange in the period between 28 April 2016 and, at the
latest, the Annual General Meeting on 26 April 2017.

The shares may be also be acquired using derivatives in the form of put
options, call options or a combination of both in accordance with the
authorisation granted by the Annual General Meeting on 27 April 2016. The
Company may acquire own shares up to a maximum of 5% of the share capital
at the time of the authorisation (27 April 2016) using options. If shares
are bought back using options, the purchase price to be paid shall be the
option exercise price (excluding incidental expenses).

The Board of Management is thus availing itself of the authorisation to buy
back shares granted by the Annual General Meeting on 27 April 2016.

The buy-back for a maximum total purchase price (excluding incidental
expenses) of EUR 1 bn shall be carried out in several tranches. A first
tranche with a maximum total purchase price (excluding incidental expenses)
of EUR 330 mio. will be carried out in the period between 9 June 2016 and
9 September 2016 at the latest at the conditions stated below.

The buy-back will be carried out in accordance with Section 14 para. 2 and
Section 20 a para. 3 of the German Securities Trading Act in conjunction
with the rules of Commission Regulation (EC) No. 2273/2003 of 22 December
2003 implementing Directive 2003/6/EC of the European Parliament and of the
Council as regards exemptions for buy-back programmes and stabilisation of
financial instruments (hereinafter: EC Regulation 2273/2003), respectively
a new regulation replacing EC Regulation 2273/2003, with the exception of
Section 3 of EC Regulation 2273/2003. The buy-back may be carried out on
behalf of and for the account of Munich Re using one or more independent
banks. The banks are obliged to carry out the acquisition of Munich Re
shares in keeping with the above-mentioned rules and to comply with the
provisions of the Annual General Meeting authorisation of 27 April 2016.

The banks will make their decisions regarding the timing of share
acquisitions independently of and without influence by Munich Re, according
to Article 6 para. 3 b) of EC Regulation 2273/2003. Munich Re will thus
not exercise control over the banks' decisions in this respect. The Board
of Management may stop the share buy-back programme and - subject to the
insider trading rules of the German Securities Trading Act - resume it at
any time.

In particular, the banks are obliged to observe the trading conditions of
Article 5 of EC Regulation 2273/2003 and the conditions of this share
buy-back programme.

The own shares acquired may be used for all legally admissible purposes
authorised by the Annual General Meeting on 27 April 2016.

Independent of the present share buy-back programme, companies of the
Munich Re Group buy and sell own shares to a minor extent on an ongoing
basis for employee share programmes and to safeguard stock appreciation
rights from the long-term incentive plan for the Board of Management and
top executives. In so doing, they comply with the conditions of the
authorisation granted by the Annual General Meeting on 27 April 2016.

The transactions will be published according to EU Regulation 2273/2003;
Munich Re will provide regular information on the progress of the share
buy-back programme at www.munichre.com.

Munich, 8 June 2016
The Board of Management

08.06.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap.de

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Language: English
Company: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Königinstraße 107
80802 München
Germany
Internet: www.munichre.com

End of Announcement DGAP News-Service

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