EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €2.1bn

23.04.24 11:10 Uhr

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EQS-Ad-hoc: 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:
 
  • In property-casualty reinsurance, the combined ratio was approximately 75%, attributable in particular to below-average major-loss expenditure.
     
  • Life and health reinsurance recorded a total technical result of around €0.6bn.
     
  • ERGO’s net result stood at approximately €0.3bn.
     
  • 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: shareholder@munichre.com
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

1887053  23-Apr-2024 CET/CEST

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