22/09-09   -   Press releases

SimCorp A/S Press release MEAG wins the SimCorp StrategyLab Risk Management Excellence Award 2009

MEAG was announced the winner of the SimCorp StrategyLab Risk Management Excellence Award 2009 at a ceremony in Luxembourg 17 September. The announcement was made in front of an audience of 200 senior delegates of the international investment management industry.

MEAG, Munich Re´s global asset manager, was named the winner after thorough evaluation of entries by an international jury consisting of distinguished specialists and academics within finance, governance and risk management. The jury included Professor Caspar Rose of Copenhagen Business School, Professor Renée Adams of University of Queensland, Professor and Director of SimCorp StrategyLab Ingo Walter of Stern School of Business (NYU), and SimCorp´s Executive Vice President, Peter L. Ravn. The assessment was based on MEAG´s achievements and developments in the field of risk management in the period from 1 August 2008 to 31 July 2009.

The award was given to MEAG because of the company´s thought-through and implemented risk policy. Specifically, the jury was impressed by the fact that risk management was regarded an issue of significant, strategic importance even before the financial crisis broke out and that systems, policies and processes were in place accordingly.

“You really need risk excellence in our industry", said Dr Peter Schenk, Head of Investment Controlling, who accepted the award on behalf of MEAG. “To MEAG it is a matter of having a strong risk culture throughout the firm. This includes strong board support, clear separation of risk management and front office functions, and explicitly defined risk related processes. Our risk framework ensures we produce risk-return-profiles with the best possible fit to investors´ liability profiles and risk preferences. Today we are in a solid position and, above all, have kept our options open."

The award has been established for the purpose of rewarding and promoting best practise within risk management in the global investment management industry.

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Enquiries regarding this announcement should be addressed to:
Lars Falkenberg, Assistant Director, SimCorp StrategyLab (+45 35 44 88 00, +45
26 30 01 27)

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About MEAG

MEAG MUNICH ERGO AssetManagement GmbH in Munich is the asset manager of Munich Re and ERGO Insurance Group. With offices in New York and Hong Kong, MEAG has an international orientation and also manages the assets of clients outside Munich Re and ERGO. MEAG currently manages assets to the value of around EUR 186 billion. The subsidiary MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH is responsible for the investment business with private and institutional clients.

SimCorp StrategyLab

SimCorp StrategyLab is a private research institution, headed by Mr Ingo Walter, Seymour Milstein Professor of Finance, Corporate Governance and Ethics at Stern School of Business, New York University. SimCorp StrategyLab research work focuses on identifying, understanding and suggesting solutions to issues pertaining to mitigating risk, reducing cost and enabling growth in the investment management industry. www.simcorpstrategylab.com