Geo Risks Research

Long before "climate protection" and "CFCs" became buzzwords familiar to the general public, Munich Re had recognised how important it was to understand the underlying geoscientific principles and set up a separate department to conduct research in this field.

The foundation stone of the Geo Risks Research Centre of Competence was laid in 1974, when the then Joint Office for Natural Hazards recruited its first geoscientist. As the frequency of natural catastrophes increased, so too did the demand for a geoscientific advice service. In the last century alone, there were more than 50,000 natural catastrophes throughout the world, which claimed the lives of over four million people (not including the victims of droughts and famines).

Overall economic losses have increased dramatically in recent decades. Consequently there has been a growing need on the part of the public, politicians, authorities, and insurers to know what is behind these events, where they come from, and what is to be done about them.

Currently, 25 staff work in the Geo Risks Research unit, covering all the relevant disciplines such as meteorology, seismology, geology, geophysics, and geography. They give advice and provide services for in-house departments (and external users) that deal with issues relating to natural catastrophes and need geoscientific knowledge.

Geo Risks Research also acts as an information node between underwriting and geoscientific research. This includes, on the one hand, giving underwriters advice and support and, on the other, representing Munich Re in a worldwide network of scientists, associations and political organisations, and taking part in ongoing research projects.