Munich Re aims for 2024 profit of 5 billion euros

FRANKFURT (Reuters) - German reinsurer Munich Re said on Friday that it was targeting 5 billion euros ($5.49 billion) in net profit for next year, in line with analyst expectations but a further bullish statement from the sector.

The 2024 target for Europe's largest reinsurer is 11% above its 2023 forecast of profit of around 4.5 billion.

Competitor Hannover Re this week said that it expects net profit of at least 2.1 billion euros for 2024, a 24% increase over its guidance for the current year.

Munich Re attributed the expected profit gains to "consistently good operational performance in all business segments".

The forecast is in line with analyst expectations for 2024 net profit of 4.95 billion euros, published in a consensus forecast on Munich Re's website.

($1 = 0.9102 euros)

(Reporting by Tom Sims and Alexander Huebner, Editing by Rachel More)