Key Developments: Muenchener Rueckversicherungs Gesellschaft AG in Muenchen (MUVGn.DE)

MUVGn.DE on Xetra

16 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Munich Re Group AG intends to buy back up to 13 million shares
Thursday, 20 Mar 2014 02:38am EDT 

Munich Re Group AG:Says on basis of authorization granted by AGM on April 20, 2011 or future authorization, company's board resolved to buy back up to 13 million shares for maximum total purchase price of 1 billion euros (excluding incidental expenses) in period between May 1 and, at latest, AGM on April 23, 2015.On basis of current share price (status: March 19), this would amount to around 3,7 pct of share capital.  Full Article

Munich Re Group AG proposes Fiscal Year 2013 dividend
Monday, 3 Feb 2014 07:00pm EST 

Munich Re Group AG:Raises dividend to 7.25 euro per share for FY 2013.FY 2012 dividend of 7.00 euro per share.  Full Article

Munich Re Group AG to Repurchase up to 13 Million Shares
Friday, 8 Nov 2013 10:03am EST 

Munich Re Group AG announced that its Board of Management resolved on November 7, 2013 that up to 13,000,000 Munich Re shares (ISIN DE0008430026) will be acquired for a maximum total purchase price (excluding incidental expenses) of EUR 1 billion via the stock exchange at the conditions stated below in the period between 7 November 7 2013 and, at the latest, the Annual General Meeting on 30 April 2014. The shares may be also be acquired using derivatives in the form of put options, call options or a combination of both in accordance with the authorisation granted by the Annual General Meeting on 20 April 2011. The Company may acquire own shares up to a maximum of 5% of the share capital at the time of the authorisation (20 April 2011) using options. If shares are bought back using options, the purchase price to be paid shall be the option exercise price (excluding incidental expenses). The Board of Management is thus availing itself of the authorisation to buy back shares granted by the Annual General Meeting on April 20, 2011.  Full Article

Assicurazioni Generali SpA Picks Two Bidders Including Scor SE For US Life Unit; Munich Re Group AG, Swiss Re AG, And Others Also Interested To Buy Generali US-Reuters
Monday, 8 Apr 2013 01:22pm EDT 

Reuters reported that Assicurazioni Generali SpA has moved closer to selling its U.S. life reinsurance unit as it shortlisted two among a large number of bidders. The selected bidders are Scor SE and a U.S. rival. Financial Italian daily Sole 24 Ore earlier reported that Scor and a U.S. player were in pole position to acquire Generali US. Munich Re Group AG, Zurich Insurance, Swiss Re AG, Hannover Rueckversicherung AG, Reinsurance Group Of America Inc and a bunch of Bermuda-incorporated reinsurers such as Everest Re were also interested to buy Generali US. Generali's new Chief executive Mario Greco aims to raise EUR4 billion from non-core asset sales to shore up capital and restore value after long-standing CEO Giovanni Perissinotti was ousted by disappointed investors led by Mediobanca. The insurer is hoping to secure $800 million to $1 billion for Generali US and about EUR2 billion ($2.60 billion) for its private bank BSI, which it is also selling.  Full Article

Munich Re Group AG Issues FY 2013 Net Profit Guidance In Line With Analysts' Estimates; Comments On FY 2014 Net Profit Guidance-Reuters
Tuesday, 12 Mar 2013 03:49am EDT 

Reuters reported that Munich Re Group AG is targeting net profit of close to EUR3 billion ($3.9 billion) in fiscal 2013. The Company expected a further rise in net profit in fiscal 2014. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net profit of EUR3 billion for fiscal 2013; net profit of EUR3 billion for fiscal 2014.  Full Article

Iberdrola SA To Sell French Wind Parks To Consortium of General Electric Co, Munich Re Group AG and Electricite de France SA -Reuters
Tuesday, 1 Jan 2013 05:27am EST 

Reuters reported that Iberdrola SA is selling its French wind park unit to a consortium including General Electric Co for about EUR400 million ($529 million) in its drive to cut debt and keep an investment grade credit rating. Once the deal is completed, General Electric will own 40% of the unit and MEAG, the asset manager of German insurer Munich Re Group AG another 40% . EDF Energies Nouvelles, the renewable unit of Electricite de France SA will own the remaining 20%. The total installed capacity of the French onshore wind farms is 321.4 megawatts. Iberdrola said the deal involved an initial payment of EUR350 million and an additional payment of EUR50 million.  Full Article

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