Munich Re

Munich Re was originally founded in 1880 as a small insurance company. Today, with around 40 million clients in over 30 countries, Munich Reinsurance Company (Munich Re) has grown to be one of the world’s leading reinsurers.[1] Reinsurance is insurance that is purchased by insurance companies from reinsurance companies like Munich Re who reinsure those policies as a means to safeguard the insurance company’s investment. Munich Re was one of the first German companies to sign the UN Principles of Responsible Investment (PRIs) and is involved in the creation of the Principles of Sustainable Insurance (PSIs).[2]

Information pertaining to the financial ties between Munich Re and the selected controversial companies in the Dirty Profits 3 report published, December 2014. Detailed data tables are available to download here.

For more information on the financial ties between Munich re and the selected controversial companies between 2011 and 2013, please refer to the Dirty Profits 2 report. Further detailed data tables can be downloaded here.

In Dirty Profits 1, Munich Re ranked 10th in harmful investment transactions with a total of €230 million invested in 15 of the 28 controversial companies investigated in the PROFUNDO report. Munich Re invests in controversial companies like Eni, Rio Tinto, and Barrick Gold.[3] For detailed information regarding the companies that Munich Re is invested in, please refer to the PROFUNDO research report links below. The PROFUNDO report, (conducted between 2010 and 2012), analyzes the investments between Munich Re (and many other financial institutes) and controversial companies.

PROFUNDO – Underwritings of Shares and Bonds


PROFUNDO – Management of Shares and Bonds

[1] “Climate Change.” Climate Change & Climate Protection. Munich Re, n.d. Web. 04 Dec. 2012. <>.

[2] “Guiding Concept and Mission.” Leading Experts on Risk Solutions Worldwide. Munich Re, n.d. Web. 04 Dec. 2012. <>.

[3] Gelder, Jan Willem Van, Barbara Kuepper, Petra Spaargaren, and Joeri De Wilde. DIRTY PROFITS Report on Companies and Financial Institutions Benefiting from Violations of Human Rights: A Research Paper Prepared for Facing Finance. Tech. Amsterdam: Profundo, 2012. Print.

Direct involvement in criticised cases Shareholding Indirect involvement (through companies or subsidiary companies) in criticised cases
Norms, affected by criticised cases

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