Munich’s financial community consists of the banks, insurance companies, and other providers of financial services located in Munich and its region. Prime among the insurers are two global players: Munich Re (turnover in 2012: €52.0 billion) and Allianz (turnover in 2012: €106.4 billion). Munich’s banking sector is large and multifaceted. All told, the region’s insurers and banks employ 55,810 people – equivalent to 8.1% of the region’s total workforce.