13 Annual Report 2019 Weather Agro Worldwide unfavourable weather con ditions are becoming more frequent NewRe s global Weather team offers so lutions tailored to companies weather risks and safeguards their profits against the whims of nature Over two thirds of the world s economy is directly or indirectly affected by volatile weather that can have a substantial finan cial impact on businesses in developed and emerging economies Affected sec tors typically include energy and agricul ture as well as travel entertainment lo gistics and construction As part of Munich Re s global Weather Commodity unit which runs teams in Houston and Munich as well we in Zurich offer tailored risk management solutions that provide financial relief to entities whose revenues are sensitive to the influ ence of weather Our financial hedging in struments are used to manage weather driven fluctuations of financial and operational key performance indicators The NewRe based team s focus areas are energy clients both conventional and re newable production in Europe Latin America and parts of Asia The main ex posures covered are temperature rainfall sunshine and wind risks With our strategy we aim to develop new client relationships in all markets to fur ther grow and diversify the portfolio The focus going forward will be to expand re newable business in Europe as well as to create opportunities in Latin America Life In the context of today s intense competi tion with challenging financial markets and exacting rating and solvency require ments active capital and risk manage ment are becoming increasingly import ant for life insurance companies NewRe addresses such needs by pro viding risk management solutions for life insurers worldwide We continuously seize business opportunities driven by corporate risk management or corporate finance particularly where management of market risks credit risks behavioural risks complex biometric risks or structur ing capabilities are key Every transaction is tailored to our clients specific needs Our book has grown significantly over the years to include reinsurance for variable annuities immediate and contingent financing contracts traditional and ex treme mortality covers and capital relief transactions covering among others lapse mortality and financial market risks As a core subsidiary of the Munich Re Group NewRe with its Life team in Zurich has access to the Group s technology and resources allowing us to develop strong expertise in capital and reserve re lief reinsurance for developed life insur ance markets across Europe Asia and Northern America NewRe AnnualReport 2019 Korrekt indd 13 27 04 20 09 43

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