and, since 1999, asset management through MEAG (MUNICH ERGO AssetManagement GmbH). Reinsurance Munich Re has clients (insurance companies) worldwide. It assures part of the risk covered by these insurance companies, as well as providing comprehensive advice on insurance business. In addition to its Munich head office, Munich Re has more than 50 Business Units around the world. Munich Re provides reinsurance cover for life, health, casualty, transport, aviation, space, fire and engineering business. In 2018, gross premiums written in the reinsurance segment amounted to around €31.3bn. Primary insurance – ERGO Group Munich Re's primary insurance operations are mainly concentrated in the ERGO Insurance Group. ERGO writes all types of life and health insurance and most types of property and casualty insurance. Outside Germany, ERGO is present in more than 30 countries around the world, servicing around 35 million clients. Members of the ERGO Group include the insurance subsidiaries D.A.S., DKV and Europäische Reiseversicherung AG, and the IT service provider ITERGO. With a gross premium written of about €17.8bn in 2018, ERGO is one of the largest primary insurers in Germany and Europe. Asset management Founded in 1999, MEAG MUNICH ERGO AssetManagement GmbH manages the assets of Munich Re, ERGO, and external clients. Their purpose is to manage and increase investments of Munich Re and ERGO and third parties. MEAG manages Munich Re's global investments amounting to €264bn. Ownership Free float is stated to be nearly 100%, with around 236,000 shareholders (June 2019). Shareholder profile: Institutional investors (80.0%) Private investors (20.0%) Most shareholders are located in Germany (around 39.4%), followed by North America (24.9%), other European countries (28.8%), UK (13.4%), other countries (0.5%). Subsidiaries Munich Reinsurance America American Modern Insurance Group Hartford Steam Boiler Inspection and Insurance Company Munich Reinsurance Trading LLC Key figures Accounts prepared according to IFRS. Munich Re Foundation The Munich Re Foundation is a charitable organisation, which was founded by Munich Re; the foundation started its work on 7 April 2005. The foundation is equipped with a capital of €50 million and works predominantly in newly industrializing and developing countries. The main topics of the foundation are: Environmental and climatic changes Microinsurance and poverty reduction Water as a resource and risk factor Disaster prevention. The prime concern of the foundation is to develop solutions for people at risk. The knowledge of Munich Re's experts should therefore be translated into action. Hence, the working motto of the foundation