Quarterly statement: Munich Re confirms annual guidance; solid quarterly result of €527m

Πέμπτη, 10 Νοεμβρίου 2022 17:59

Munich Re achieves a profit of €1,903m (2,061m) in Q1–3 and grows profitably in all fields of business
High major-loss expenditure in property-casualty reinsurance; strong performance in life and health business
ERGO contributes €446m (134m) to Group’s Q3 result
Robust increase in reinvestment yield; falling share prices and higher interest rates adversely affect investment result; high currency result

Financial solidity and professional expertise are of fundamental importance to our clients in times of crisis and guide Munich Re in its actions. Hurricane Ian matches the pattern science would expect of a warming world. Therefore the rising probability of such extreme storms is part and parcel of our models and must be reflected in pricing. The sustainable and reliable offering our clients expect of us is based on realistic analyses, not only of natural catastrophe risks, but also of cyber and pandemic risks. And although Hurricane Ian and the macroeconomic environment are making it significantly more challenging for us, we are firmly adhering to our annual guidance of €3.3bn. All fields of business are contributing to sustainably positive performance.