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

eqs_en 
0 0 23.04.24
EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €2.1bn: http://s3-eu-west-1.amazonaws.com/sharewise-dev/attachment/file/23623/M%C3%BCnchener_R%C3%BCck_logo.svg.png
 

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: [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

1887053  23-Apr-2024 CET/CEST

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Münchener Rückversicherungs-Gesellschaft AG Stock

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EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




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