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par MUNCHENER RUCKVERS (isin : DE0008430026)
EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €2.1bn
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:
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
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