Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Release of a capital market information

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München /
Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052

31.05.2017 / 16:06
Dissemination of a Post-admission Duties announcement transmitted by DGAP -
a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

---------------------------------------------------------------------------

Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München

WKN 843002
ISIN DE0008430026

Disclosure according to Section 2 para. 1 of Regulation (EU) No. 2016/1052

The Board of Management of Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München ('Munich Re') resolved on 15 March 2017 that
up to 11 million 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 in the period between 27 April 2017 and, at
the latest, the Annual General Meeting on 25 April 2018.

The shares may 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 26 April 2017. The
Company may acquire own shares up to a maximum of 5% of the share capital
at the time of the authorisation (26 April 2017) 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 26 April 2017.

The buy-back for a maximum total purchase price (excluding incidental
expenses) of EUR 1 billion shall be carried out in several tranches. A
first tranche with a maximum total purchase price (excluding incidental
expenses) of up to EUR 360.000.000 will be carried out in the period
between 01 June 2017 and 30 August 2017 at the latest at the conditions
stated below.

The buy-back will be carried out in accordance with Articles 5, 14 and 15
of Regulation (EU) No 596/2014 of the European Parliament and of the
Council of 16 April 2014 in conjunction with the rules of Commission
Delegated Regulation (EU) 2016/1052 of 8 March 2016 supplementing
Regulation (EU) No 596/2014 of the European Parliament and of the Council
with regard to regulatory technical standards for the conditions applicable
to buy-back programmes and stabilisation measures (hereinafter: EU
Regulation 2016/1052), with the exception of Article 2 para. 1 a) of EU
Regulation 2016/1052. The buy-back may be carried out on behalf of and for
the account of Munich Re using one or more independent banks. The banks are
obliged to carry out the acquisition of Munich Re shares in keeping with
the above-mentioned rules and to comply with the provisions of the Annual
General Meeting authorisation of 26 April 2017.

The banks will make their decisions regarding the timing of share
acquisitions independently of and without influence by Munich Re, according
to  Article 4 para. 2 b) of EU Regulation 2016/1052. Munich Re will thus
not exercise control over the banks' decisions in this respect. The Board
of Management may stop the share buy-back programme and - subject to the
insider trading rules of Regulation (EU) No 596/2014 of the European
Parliament and of the Council of 16 April 2014 - resume it at any time.

In particular, the banks are obliged to observe the trading conditions of
Article 3 of EU Regulation 2016/1052 and the conditions of this share buy-
back programme.

The own shares acquired may be used for all legally admissible purposes
authorised by the Annual General Meeting on 26 April 2017.

Independent of the present share buy-back programme, companies of the
Munich Re Group buy and sell own shares to a minor extent on an ongoing
basis for employee share programmes and to safeguard stock appreciation
rights from the long-term incentive plan for the Board of Management and
top executives. In so doing, they comply with the conditions of the
authorisation granted by the Annual General Meeting on 26 April 2017.

The transactions will be published according to  EU Regulation 2016/1052;
Munich Re will provide regular information on the progress of the share
buy-back programme at www.munichre.com.

Munich, 31 May 2017    

The Board of Management


---------------------------------------------------------------------------

31.05.2017 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

---------------------------------------------------------------------------

     Language:    English
     Company:     Münchener Rückversicherungs-Gesellschaft
                  Aktiengesellschaft in München
                  Königinstraße 107
                  80802 München
                  Germany
     Internet:    www.munichre.com



     End of News    DGAP News Service