Business Segment Weather Agro Worldwide the impact of climate change is noticeable and increasingly evident in the form of changing weather patterns e g exceptionally mild winters cool summers and periods of sustained drought or low wind levels This increasing volatility of weather pat terns has seen pro active risk management of extreme events gain more attention worldwide While corporate and public enti ties have long used insurance to manage the risk of catastrophic weather events weather covers have more recently gained relevance and are becoming an important risk management tool 2021 in particular saw unprecedented vola tility in European commodity markets most specifically in gas and power prices Our agile approach to structured weather risk management solutions enabled us to once again prove our value to our clients in a rapidly changing market environment As part of Munich Re s global Weather and Agricultural Risk unit which also runs teams in Houston and Munich we in Zurich offer tailored risk management solutions that provide financial relief to entities whose revenues are easily impacted by the weather Our financial hedging instru ments are used to manage weather driven fluctuations in financial and operational key performance indicators The NewRe based team s focus is on ener gy clients both conventional and renewable production in Europe Asia Pacific and Latin America The main exposures covered are temperature rainfall sunshine and wind risks Our strategic objective is to develop new client relationships in all markets to further expand and diversify the portfolio NewRe Annual Report 2021 Inhalt indd 13 25 04 22 10 19

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