Insurance Group Munich

Dismissals of employees are trading part of the maximization strategy the Munich Reinsurance as ERGO in Dusseldorf, but it had about 50,000 employees in Munich has its headquarters. E.g. DKV, Hamburg-Mannheimer, Victoria, Valencia home savings, KarstadtQuelle belong to the group insurance (majority), Neckermann insurance (to 75%). According to their press release from the 06.08.08, the Munich Re Group has achieved a profit of 1.4 billion euro in the first half of 2008 (previous year period: 2.1 billion). Profit for the year should be 2008 well over 2 billion strict handling of the IFRS rules on depreciation despite sharply lower share prices and the dollar’s fall.

Keeps its medium-term targets Munich Re set: by 2010 more than 8 billion to shareholders should flow on stock buybacks and dividend payments. A component of ERGO’s strategy is to reduce the expense ratios. End of 2007 she had targets for their expense ratios ERGO (HGB) communicating: by the year 2010, the management expense ratios in life insurance to 2.9% (2007: 3.3%) and in health insurance to 2.8% (3.0%) wants to reduce ERGO; composite the operating expense ratio should be 30.5% (32.2%). ERGO plans, to save around 180 million of property and personnel costs in the year 2010. This means that nationwide 1.570 jobs will be axed.

Also a total of 360 vacant posts should be deleted in the sum so 1,930 points. Axel Mende, Parliament candidate of the party that says left from the District of Dachau: From the press release of the Group was unaware that extent to which the increasing loss of the purchasing power of citizens and increasing poverty affect also the business of insurance. What the German retail 2010 experience since adoption of the agenda, the customers purchase dispensing, the shrinkage of the domestic economy, will also soon recognizes the German insurance. More and more people who have to give up their life insurance, loss of unemployment in the case or Maturity by means of the Hartz IV instrument be ousted, and see no sense in insurance contracts. This instrument of raising capital will be lost of the financial world to a greater extent. Against Hartz IV and long-term unemployment there is no offer of Insurance Group Munich Re. Each worker is away time only 12 months of the ALG II and saves some insurance for this reason. Once again there is quite clear that the right of citizens to social protection, reliability and predictability of planning your life with feet is performed. On the part of the large corporations this inhuman policy in favour of profit maximization is brutally pulled through and includes also the Munich Re. V.i.S.d.P. Axel Mende parliamentary candidate for the Distr. Dachau Lerche. 1 85259 Larisa Tel: 08134 559021, eMail: Web:

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