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Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re achieves quarterly result of around €1.1bn

·2-min read

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re achieves quarterly result of around €1.1bn

20-Jul-2021 / 15:49 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

In the second quarter of 2021, Munich Re's major-loss expenditure in property-casualty reinsurance business was below average, mainly as a result of comparatively low losses from natural catastrophes. COVID-19 related losses in the field of property-casualty reinsurance were in line with expectations. In life and health reinsurance business, these clearly exceeded the expectation mainly due to the high mortality rate in India and South Africa. At ERGO, only minor effects resulted from Covid-19 in the second quarter. Operationally, the result developed favorably in all business fields.

Overall, Munich Re achieved a preliminary net profit of around €1.1bn in the stand-alone second quarter of the year 2021 (consensus of €808m*). The half-year result amounts to around €1.7bn. Munich Re is thus well on track to reach the annual target of €2.8bn, even though the probability of missing the stand-alone sub target of €400m set for the technical result in life and health reinsurance** has increased.

Munich Re will report on the definitive figures for the second quarter on 10 August, as planned.

*Mean value derived from the estimates of 14 financial analysts
**Including the result from reinsurance treaties with non-significant risk transfer




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

20-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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:

1220355


 

End of Announcement

DGAP News Service

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