DGAP-Adhoc: Munich Re announces profit target of €2.8bn for 2021; Profit outlook of €1.2bn for 2020
DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Forecast Munich Re announces profit target of €2.8bn for 2021; Profit outlook of €1.2bn for 2020 On account of considerable uncertainty pertaining to the repercussions of COVID-19, Munich Re withdrew its profit forecast for this year on 31 March 2020. The Board of Management has today approved a revised forecast for this year, with Munich Re expecting a consolidated profit of €1.2bn for 2020. A profit of €200m has been forecast for Q4. As in Q1-Q3, there has been high expenditure for COVID‑19 in Q4. In 2020, Munich Re expects €3.4bn in reinsurance losses arising from COVID-19, with life and health reinsurance accounting for €360m and property-casualty reinsurance for €3.02bn. ERGO expects a negative COVID-19 impact of approx. €65m on the net result. Group premium income in 2020 is expected to total €54bn. High market volatility and the further fall in interest rates notwithstanding, the return on investment will be approx. 3%. Contact: Dr. Fabian Jürgens General Counsel & Group Chief Compliance Officer
01-Dec-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. |
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: | 1151764 |
End of Announcement | DGAP News Service |
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1151764 01-Dec-2020 CET/CEST
Münchener Rückversicherungs-Gesellschaft AG Aktie
Die Münchener Rückversicherungs-Gesellschaft AG Aktie wird von der Community stark bevorzugt: Mehrere Buy-Einschätzungen, keine Sell-Einschätzungen.
Für Münchener Rückversicherungs-Gesellschaft AG ergibt sich ein leicht positives Potenzial, angesichts eines Kursziels von 463 € im Vergleich zu 436.6 €.