MUNCHENER RUCKVERS (AMS:MEURV) EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of ca. €1.2bn and raises the guidance for 2023 to €4.5bn

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23/10/2023 13:14

EQS-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Change in Forecast
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of ca. €1.2bn and raises the guidance for 2023 to €4.5bn

23-Oct-2023 / 13:14 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.

Due to consistently good operational performance in all business segments, in the third quarter of 2023 Munich Re posted a preliminary net result of ca. €1.2bn (consensus: €1,131m*). In property-casualty reinsurance, Munich Re reported major losses that were slightly below the expected average. In life and health reinsurance, the total technical result once again exceeded pro-rata guidance. ERGO reported consistently excellent business performance that, due in part to higher losses from natural catastrophes, yielded a result that was slightly below the very high level seen in the two previous quarters.

The result for the first nine months of the year was thus €3.6bn. Munich Re is well positioned to surpass the previous annual target of €4bn. Munich Re has accordingly raised its annual guidance for 2023 to a net result of €4.5bn. As usual, this projection is subject to increased uncertainties stemming from geopolitical and macroeconomic developments, to major losses remaining within normal bounds, and to the income statement not being impacted by severe fluctuations in the currency or capital markets, significant changes in the tax environment, or other one-off effects.

Munich Re will provide finalised Q3 results on 8 November as scheduled.

* Mean value derived from the estimates of 15 financial analysts.

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

End of Inside Information

23-Oct-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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:	1755087


End of Announcement	EQS News Service

1755087 23-Oct-2023 CET/CEST

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MUNCHENER RUCKVERS (AMS:MEURV) EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of ca. €1.2bn and raises the guidance for 2023 to €4.5bn

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