- Munich Re’s Q3 2024 net result is €0.9bn, with a total of €4.7bn for Q1–3, despite significant natural catastrophe losses.
- The company expects to surpass its annual target of €5bn. Reinsurance contributed €766m in Q3, while ERGO added €164m.
- Major losses from events like Hurricane Helene increased to €1,609m. Munich Re’s investment result rose to €2,091m, driven by equity market gains and high-interest reinvestments.
Thu Nov 07 07:35:00 -0000 2024 UTC– Munich Re’s Q3 2024 financial results show a net profit of €930m, with an annual target expected to be surpassed.
The company’s resilience is highlighted despite major losses from natural catastrophes. Reinsurance and ERGO segments also contribute positively. Munich Re anticipates exceeding its 2024 result target of €5bn.
The solvency ratio improved to 292%. The company forecasts over €5bn net profit for 2024, with insurance revenue expected to reach €61bn.