Munich Re Works to Guard Margins But 2026 Revenue Consensus Might Be Too High -- Market Talk

Dow Jones05-12

1444 GMT - Munich Re's current returns are solid and the German reinsurer is showing discipline on price to its preserve margins but consensus expectations on its top-line for 2026 seem too high, RBC says in a research note. For RBC analysts, a key question is whether the reinsurance revenue target of 64 billion euros for 2026 is achievable, with consensus below 62.4 billion euros. Another question is how much property-casualty reinsurance and global specialty insurance margins can be maintained into 2027 and beyond. Although shares were weak ahead of results, RBC says operating headwinds make it hard to see where buying interest would come from. Shares trade 5.9% lower at 469.80 euros. (sarah.sloat@wsj.com)

(END) Dow Jones Newswires

May 12, 2026 10:44 ET (14:44 GMT)

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