Munich financial center
The Munich financial center includes all companies in the finance and insurance industry as well as institutions in Munich and the surrounding area. The financial center is particularly important due to the strong insurance industry with the industry heavyweights Munich Re (2014 turnover: 48.8 billion euros) and Allianz SE (2014 turnover: 122.3 billion euros) as well as - despite the financial crisis and the consolidation process - important banking sector. In the Munich area, 6.3 percent of employees work in the finance and insurance sector; according to the latest figures from mid-June 2014, the figure was 80,610. The Munich financial center is actively represented externally by the Munich Financial Center Initiative (fpmi). Founded in 2000 with significant commitment from the Bavarian Ministry of Economic Affairs, the initiative now has fifty members, more than any other financial center initiative in Germany. Participants include representatives from the finance and insurance industry as well as venture capital and leasing companies, the Munich Stock Exchange , chambers and business associations as well as university chairs.
Insurance
Munich is one of the world's leading insurance locations. Around 60 insurance companies have their headquarters in the Bavarian capital and its surrounding communities, including the Allianz Group, Munich Re, DAS , the Bavarian Insurance Chamber and the Bavarian Supply Chamber . Foreign insurance companies such as Swiss Re also have main offices in Munich. The industry employs a total of around 28,000 people in and around Munich, more than in any other German city.
Banks
After Frankfurt am Main , Munich is the second most important German banking location. Around 50 banks, including HypoVereinsbank , which merged with Unicredit to form a European bank, and BayernLB are based here. A total of 160 credit institutions are present in Munich. The Stadtsparkasse Munich is one of the largest German savings banks. The mortgage business plays a major role; the Munich institutes issue around a third of all Pfandbriefe issued in Germany .
Asset management
In 1949, ADIG Allgemeine Deutsche Investment-Gesellschaft, the first German investment company , was launched in the Bavarian capital . Asset management and fund companies owned by Munich companies today manage well over a trillion euros.
Munich Stock Exchange
The Munich Stock Exchange is organized under public law. More than 18,300 securities from various classes are traded. With m: access it offers a market segment for the financing of medium-sized companies. IPOs are supervised and corporate bonds are admitted to trading.
Private equity and venture capital
Over 40 VC and private equity companies are headquartered in Munich, and numerous other German and international companies in the industry are represented here with branches.
Leasing and factoring
The greater Munich area is the leading German leasing location. Of the around 175 members of the Bundesverband Deutscher Leasing-Unternehmen (BDL), who represent a total of around 90 percent of the total leasing market volume in Germany, almost 20 percent are based in or around Munich, including the limited partnership Allgemeine Leasing ( KGAL), LHI Leasing and Hannover Leasing . The greater Munich area is also one of the most important factoring locations in Germany with companies such as Eurofactor AG .
Funding institutes
With the LfA Förderbank Bayern and the BayBG (Bayerische Beteiligungsgesellschaft) , Munich is home to two important funding institutes. While the LfA has concentrated on granting low-cost loans for start-ups and medium-sized companies, BayBG is getting involved as a silent partner in a large number of small and medium-sized enterprises (SMEs) as equity providers.
Institutions
The branch of the Deutsche Bundesbank or the banking associations (Bayerischer Bankenverband, Sparkassenverband Bayern ) also contribute to the broad positioning of the financial center.