EQS-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €0.9bn

22.10.24 12:31 Uhr

EQS-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results/Forecast
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re posts quarterly result of €0.9bn

22-Oct-2024 / 12:31 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.


Operational performance remained pleasing in Q3 2024 across all lines of business. Munich Re has generated a preliminary net result of about €0.9bn (consensus: €1,419m*), which was impacted by higher-than-average major-loss expenditure from natural catastrophes in property-casualty reinsurance. Hurricane Helene, which caused severe damage in the southeastern United States and approximately €0.5bn in losses, amounted to Munich Re’s largest single claims event in Q3. Three loss events in Canada together resulted in similar claims expenditure. In addition to numerous other natural catastrophes and man-made losses, significant damage occurred in Central and Eastern Europe due to Storm Boris and consequent flooding, as well as in the United States and the Caribbean owing to Hurricane Beryl.

Although claims expenditure attributable to Hurricane Milton will likely be significant, Munich Re now expects – buoyed by the very good net result of €4.7bn after the first nine months of 2024 – to surpass its full-year profit target of €5bn. Munich Re will provide finalised Q3 results on 7 November as scheduled.

 

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

 

 


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


End of Inside Information

22-Oct-2024 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: 2013579

 
End of Announcement EQS News Service

2013579  22-Oct-2024 CET/CEST

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