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INSURANCE COMPANIESREINSURERS

MRoA Munich Re Group

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Tel: +27 11 242 2000
Fax: +27 11 242 2200
Address:
Munich Re Centre
47 Empire Road
Parktown
Johannesburg
2193
Postbox:
P.O. Box 6636
Johannesburg
2000
Scope:
Eastern Cape, Free State, Gauteng, KwaZulu-Natal, Mpumalanga, North-West, Northern Cape, Northern Province, Western Cape.

Munich Re Group is one of the world's largest reinsurers and the second-largest primary insurer in Germany.

5,000 insurance companies in 160 countries rely on Munich Re's expertise and financial strength. Of the gross premiums written in 2006, around 65% came from property-casualty and 35% from life and health business. Munich Re offers a full range of products — from traditional reinsurance to alternative risk financing.

Among other things, we reinsure the risks of oil rigs, satellites and natural catastrophes, and those arising from the use of genetic engineering and information technology or from corporate management.

From The Glossary »

Indemnity:

The amount paid by the insurer to the insured for loss or damage covered under the insured’s policy. Indemnity value takes into account the effects of depreciation. Short-term insurance contracts may be either indemnity or non-indemnity contracts. If it is an indemnity contract the insured is entitled to recover the commercial value of what is insured, that is depreciated value. Replacement value puts the insured into a position that is better ...
More Definitions »

 
 
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