Menu
sharewise sharewise
Log in
Sign up
Log in
Sign up
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of approx. €0.5bn and confirms annual forecast

eqs_en 
0 0 21.10.22
EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of approx. €0.5bn and confirms annual forecast: 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 approx. €0.5bn and confirms annual forecast

21-Oct-2022 / 12:45 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.

In Q3 2022, Munich Re registered higher-than-average major-loss expenditure in property-casualty reinsurance. It is expected that Hurricane Ian caused roughly €1.6bn1 in losses after retrocession for Munich Re; this estimate remains subject to substantial uncertainty. Depending on the outcome of the ongoing quarterly closing – and on account of sustained encouraging operating performance in all lines of business and a positive one-off effect at ERGO Life and Health Germany – Munich Re anticipates a quarterly profit of about €0.5bn (consensus: –€167m2).
 
Munich Re still anticipates a profit of about €3.3bn for 2022. However, it has become significantly more challenging to meet the 2022 profit target – which is subject to the realisation of currently anticipated positive one-off effects, particularly regarding investments. In addition, the forecast is still based on major losses during Q4 being in line with expectations.3 Munich Re will provide finalised Q3 results on 8 November, as scheduled.
 
 
1 Estimated insured market loss within a currently broad range around US$ 60bn (excluding the National Flood Insurance Program NFIP).
2 Mean value derived from the estimates of 15 financial analysts.
3 Major-loss budget of more than €1bn equates to 13% of net earned premiums.
 
 

 


Contact:
Dr. Stefan Gehring
General Counsel & Group Chief Compliance Officer

21-Oct-2022 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: 1468655

 
End of Announcement EQS News Service

1468655  21-Oct-2022 CET/CEST

fncls.ssp?fn=show_t_gif&application_id=1468655&application_name=news&site_id=sharewise

Münchener Rückversicherungs-Gesellschaft AG Stock

€433.70
0.140%
The Münchener Rückversicherungs-Gesellschaft AG stock is trending slightly upwards today, with an increase of €0.60 (0.140%) compared to yesterday's price.
With 6 Buy predictions and not the single Sell prediction the community is currently very high on Münchener Rückversicherungs-Gesellschaft AG.
As a result the target price of 463 € shows a slightly positive potential of 6.76% compared to the current price of 433.7 € for Münchener Rückversicherungs-Gesellschaft AG.
Show more
Like: 0
Share
eqs_en 
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.




Legal notice

Comments

Not a member yet? Sign up for free!