Munich Re is reducing its engagementin Helvetia

Munich Re has reduced its participation in Helvetia from 8.2% down to 3%. The German reinsurer justifies this move by its will to reduce the concentration of risks in its portfolio and not by the current or future performance of the Swiss insurer. The 450 000 shares that have been transferred for the total amount of 119 million EUR (160 million USD) enable Munich Re to achieve added value of 90 million EUR (121 million USD).