In 1880 , Carl von Thieme , a native of Erfurt , whose father was the director of Thuringia , founded '' ' Münchener Rückversicherungs-Gesellschaft ' '' together with Wilhelm von Finck ( co-owner of the Merck Finck & Co bank ) and Theodor von Cramer-Klett . This was followed by the founding of Allianz Versicherungs-Gesellschaft in 1890 . Carl von Thieme was head of Munich Re until 1921 , and Wilhelm von Finck served as Chairman of the supervisory board until 1924 . Munich Re became renowned after the San Francisco earthquake of 1906 as the only insurer that remained solvent after paying out all the claims
San Francisco earthquake
1906 San Francisco earthquake
Munich Re