Around 188,000 people work in the financial economy in Bavaria. Around 100 companies in the insurance sector are based in Bavaria, making the state one of the world's leading insurance locations. These companies include Allianz AG and Munich Re, the world's largest reinsurer. Bavaria's banking and insurance sector has seen growth of 59 per cent since the start of the 1990s. The sector in Bavaria appears stable and robust, with the forward-looking stock exchange, innovative asset management and Bavaria as Germany's most important state of venture capital.