Insurance: a global leader
Home to some 60 insurance companies, greater Munich is one of the world’s leading centers of insurance. The companies headquartered in Munich include Allianz Group (one of the world’s largest provider of insurance and asset management services), Munich Re (the world’s largest reinsurer), DAS (Europe‘s leading provider of coverage for legal expenses), Versicherungskammer Bayern (Germany’s largest public sector-owned insurer); and Bayerische Versorgungskammer (Germany’s largest public-sector provider of management and investment services for providential pension funds).
These companies are joined by the large number of insurers maintaining offices and operations in Munich. Among them: Swiss Re, one of the world’s leading reinsurers.
Bavaria’s insur and sector is a major employer. Of its some 62,000 employees, 33,000 work in greater Munich, and some 14,000 in the state’s other two insurance centers: Nuremberg (home to such leading insurers as Nürnberg Versichersgruppe – Germany’s second largest provider of occupational disability coverage) and in Coburg (headquarters of HUKCoburg, one of Germany’s leading suppliers of automobile insurance).
The insurance industry*
In greater Munich
headquartered in region: 60
headquartered in state: 98
Employees worldwide: 151,338
Turnover: billion euros 106.5
Employees worldwide: 46,915
Premium income: billion euros 45.5
Premium income: billion euros 7.2
Premium income: billion euros 5
Employees (not counting
external sales force): 4,393
Premium income: 3.5 billion euros
** figures rounded off and as of 2010