NewRe Annual Report 2021 5 After more than 10 years we felt that it was time to give our corporate identity a modernised look and feel You will notice that we have remained true to our values and present a design that looks at the world with a wink I hope you like what you see and agree with us that resilience also depends on the ability to maintain a sense of humour This past year was once again fraught with change and uncertainty demanding a great deal of flexibility from us all both professionally and personally I am ex tremely proud of how the NewRe team has yet again successfully navigated such a strenuous year In 2021 we channelled the right mindset to improve not only our profitability and financial stability but also our business at every level Financial resilience in a turbulent year We are pleased to announce that NewRe s resilience is reflected in our financial statements At EUR 156 m NewRe s overall 2021 result compares favourably to the previous year s figure of EUR 109 m The Company showed a solid SST ratio of 183 in the reporting year Please turn to our financial statements and management report p 20 for a closer look at what lies behind our 2021 performance Business in an ever changing world The past year has validated the focal points of our targeted business model Our risk solutions in all lines of business keep pace with our clients changing de mands Our industry has experienced another year that has highlighted the harsh realities of climate change NewRe has also been affected by major NatCat events in particular the flooding in Ger many But I can state with confidence that these were by no means black swan events for us We remained well within the scenarios of our risk models and will continue to adapt our modelling to incorporate new factors going forward The volatility of weather conditions is one of the key drivers of our weather solu tions This year the sharp rise in gas and oil prices has changed clients demands For the first time they not only bought protection against a mild winter but also against one that may turn out too cold Our customised reinsurance solutions in Property Casualty and Life address the specific needs of our clients world wide For example life insurance compa nies are looking for new solutions for their new and in force businesses caused by the continuing low interest rate environment Although we are acutely aware of the busi ness opportunities that the increasing demand for cyber insurance presents for the insurance industry we continue to refrain from cyber risks as comprehensive service components are needed to man age these risks properly Such a service intense approach does not fit NewRe s current set up However our parent com pany Munich Re is superbly positioned Message from the CEO NewRe Annual Report 2021 Inhalt indd 5 25 04 22 10 19

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