Some companies live with risk... Münchener Rückversicherungs-Gesellschaft (Munich Re), on the other hand, thrives on risk. Reinsurance coverage (insurance for insurers) includes fire, life, motor, and liability policies on both a facultative (individual risk) and treaty (categorized risk) basis. The company also provides direct insurance including life, health, and property coverage through Germany-based ERGO and other subsidiaries, and it provides asset management services through MEAG MUNICH ERGO. Through Munich Re America, Munich Re enjoys greater access to the US market. As one of the world's largest reinsurance and risk management firms, the company operates in some 160 countries.