MUNICH RE Group Annual Report 2020
Munich Re
2020
Key figures (IFRS)1, 2
Munich Re at a glance
2020
54,890
51,223
-43,077
-12,815
1,986
-269
1,211
0
8.63
5.3
3.0
9.80
1,373
242.80
34.0
213.38
232,950
11,033
29,994
21,298
221,480
297,946
39,642
Reinsurance
2020
37,321
94,631
78,190
-4,689
-906
105.6
3,193
694
123
571
4.1
ERGO
2020
17,569
149,352
143,290
92.4
92.7
4,206
517
130
157
230
8.8
1 You will find this information as a downloadable Excel file in the financial supplement underwww.munichre.com/results-reports.
2 Previous year's figures adjusted owing to IAS 1. For details, please see the section "Recognition and measurement - Changes in accounting policies and other adjustments" in the Notes to the consolidated financial statements.
3 We have changed the calculation of RoE and adjusted the previous year's figure accordingly. Further information on this indicator can be found in the combined management report under Tools of corporate management and strategic financial objectives, and in the Notes to the consolidated financial statements, in the section entitled Segment reporting, Notes on determining the return on equity (RoE). Comparability with the years up to and including 2018 is limited.
4 Subject to approval by the Annual General Meeting.
5 Including those apportionable to minority interests and policyholders.
6 With the publication of our Ambition 2025 in December 2020, RoE has now become a target figure for our fields of business. Further information can be found in the combined management report under Tools of corporate management and strategic financial objectives, and in the Notes to the consolidated financial statements, in the section entitled Segment reporting, Notes on determining the return on equity (RoE). We do not report this indicator for the years up to and including 2018.
ContentsGroup Annual Report 2020
1
Munich Re at a glance Key figures (IFRS) Quarterly figures Important datesInside front cover Inside back cover
Back cover
Letter to shareholders 3
Corporate governance 7
Report of the Supervisory Board 9
Statement on Corporate Governance 16
Combined management report 31
Group 34
Macroeconomic and industry environment 56
Combined non-financial statement 57
Tools of corporate management and strategic financial objectives 68
Business performance 71
Financial position 84
Risk report 88
Opportunities report 99
Prospects 101 Munich Reinsurance Company (information reported on the basis of
German accountancy rules) 105
Consolidated financial statements and notes 113
Consolidated balance sheet 116
Consolidated income statement 118
Statement of recognised income and expense 119
Group statement of changes in equity 120
Consolidated cash flow statement 122
Notes 123
Independent auditor's report 204
Independent auditor's limited assurance report 212
Responsibility statement 214
Imprint/Service 215
More detailed lists of contents are provided on the pages separating the individual sections.
Due to rounding, there may be minor deviations in summations and in the calculation of percentages in this report.
This document is a translation of the original German version and is intended to be used for informational purposes only. While every effort has been made to ensure the accuracy and completeness of the translation, please note that the German original is binding.
Munich Re Group Annual Report 2020
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Munich Re Group - Münchener Rück AG published this content on 17 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 07:47:08 UTC.
