Which reinsurer was founded in Munich in 1880 by Carl von Thieme?

Munich Re was founded in Munich in 1880 by Carl von Thieme.

The company was created as Münchener Rückversicherungs-Gesellschaft, a German enterprise specializing in reinsurance. Reinsurance allows an insurer to transfer part of its risk to another insurance company, helping it manage unusually large losses and maintain financial stability.

Carl von Thieme had worked in the insurance sector before founding the company. Munich Re’s early development was tied to the growth of industrial insurance and the increasing need to spread risks across markets and territories.

Munich Re is sometimes confused with Swiss Re, another major global reinsurer founded earlier in Switzerland. The two companies are separate organizations. Munich Re’s name refers to Munich, while “Re” identifies its historical focus on Rückversicherung, the German word for reinsurance.