Munich Re Guides for Higher Profit Next Year

Dow Jones12-13

By Elena Vardon

Munich Re expects its net profit for 2025 to top this year's result and issued targets that surpass analyst expectations.

The reinsurer forecasts it will make around 6.0 billion euros ($6.28 billion) in net profit this year, up from its more than 5 billion euros target for the current year. This compares with estimates of 5.56 billion euros in net profit for 2024 and 5.86 billion euros for 2025, taken from a Visible Alpha poll.

The German company also guided for group insurance revenue of around 64 billion euros next year, ahead of consensus' 63.61 billion euros. Return on investment is expected to be above 3% next year, it said Friday.

The group expects net profit from its reinsurance business to come in at around 5.1 billion euros on insurance revenue of around 42 billion euros.

In property-and-casualty, it forecasts a combined ratio--a measure of underwriting profitability--of 79% and an around 90% one for its global specialty-insurance unit, which it will start reporting separately. It guided for a total technical result of 1.7 billion euros for its life-and-health reinsurance line.

Its ERGO unit should bring in around 900 million euros in net profit from 22 billion euros in insurance revenue, Munich Re said. The combined ratio for Germany should be around 89% and that of international around 90%, it said.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

December 13, 2024 01:44 ET (06:44 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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