text: Munich Re says to split stock . MUNICH , Germany 1996-12-06 Muenchener Rueckversicherungs AG , the world 's largest reinsurer , said on Friday it expected to switch its shares to a lower par value by September 1997 at the earliest . The group , known as Munich Re , plans to seek approval for the move at its shareholders ' meeting today . The company said the switch would probably become effective in September . The planned 10-for-one stock split would reduce the par value of Munich Re 's shares to five marks from 50 , causing their price to drop to around one tenth of the present value . Munich Re 's registered shares , part of the blue-chip DAX index , were trading at 3,710 marks on Friday . -- Frankfurt Newsroom , +49 69 756525