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

Transparency directive : regulatory news

21/10/2022 12:45

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:	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:	1468655


End of Announcement	EQS News Service

1468655 21-Oct-2022 CET/CEST

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

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