MEAG receives mandate from Protektor

MEAG MUNICH ERGO AssetManagement GmbH, asset manager for Munich Re and ERGO Insurance Group has, following a bidding process, received mandate for the security funds of life insurer Protektor. Development of the funds will begin October 2006.

Dr. Thomas Kabisch, CEO of MEAG, states: "MEAG covers each step in the value chain for asset management in insurance: from asset liability management, strategic asset allocation, portfolio management, risk management, up to accounting. We look forward to using our know-how in the service of Protektor." MEAG accepted the bid for administration and a part-mandate in portfolio management.

Dr. Robert Helm, Managing Director for institutional customers, continues: "The out-sourcing of capital management for investors, which is subject to the insurance-supervisory law, is a popular topic these days. Due to MEAG's role in the Munich Re Group, we are fully prepared and, with this mandate, will strenghten our position in the new market."

About MEAG:
MEAG MUNICH ERGO AssetManagement GmbH of Munich, Germany, manages the assets of Munich Re and ERGO Insurance Group. With offices located in New York and Hong Kong, MEAG is a global player. In addition to handling equities, MEAG collaborates with partners outside the Munich Re Group. Currently, MEAG manages assets valued at approximately 180 billion Euro.

Munich, 09/15/2006

Contact:
Dr. Josef Wild
Telephone: +49(0)89 2489 2072
Fax: +49(0)89 2489 2075
Email: JWild@meag.com