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Muenchener Rueckversicherungs-Gesellschaft AG
Earnings Release • Apr 23, 2024
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Earnings Release
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News Details
Ad-hoc | 23 April 2024 11:10
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €2.1bn
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €2.1bn
23-Apr-2024 / 11:10 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Munich Re has made a strong start to the year. With a preliminary net profit of approximately €2.1bn in the first quarter of 2024, the Group significantly surpassed analysts’ expectations of €1,476m*.
The operational performance of all lines of business was better than expected for the full year:
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In property-casualty reinsurance, the combined ratio was approximately 75%, attributable in particular to below-average major-loss expenditure.
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Life and health reinsurance recorded a total technical result of around €0.6bn.
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ERGO’s net result stood at approximately €0.3bn.
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Buoyed by a favourable capital market environment, Munich Re achieved a high investment result, with an ROI of approximately 3.8%, and a positive currency result.
Munich Re still anticipates a net result of €5bn for the 2024 financial year. Surpassing this target has become more likely due to the Q1 result.
Munich Re will provide final Q1 2024 results on 8 May as scheduled.
* Mean value derived from the estimates of 11 financial analysts.
Contact:
Dr. Stefan Gehring
General Counsel & Group Compliance Officer
End of Inside Information
23-Apr-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
| Language: | English |
| Company: | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
| Königinstraße 107 | |
| 80802 München | |
| Germany | |
| Phone: | +49(0) 89 3891-0 |
| Fax: | +49(0) 89 399 056 |
| E-mail: | [email protected] |
| Internet: | www.munichre.com |
| ISIN: | DE0008430026, DE0008430026 |
| WKN: | 843002, 843002 |
| Indices: | DAX, EURO STOXX 50 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Mailand |
| EQS News ID: | 1887053 |
| End of Announcement | EQS News Service |