DGAP-Adhoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re achieves quarterly result of around €1.1bn

2021. július 20., kedd, 15:49





DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results


Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re achieves quarterly result of around €1.1bn


20-Jul-2021 / 15:49 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




In the second quarter of 2021, Munich Re"s major-loss expenditure in property-casualty reinsurance business was below average, mainly as a result of comparatively low losses from natural catastrophes. COVID-19 related losses in the field of property-casualty reinsurance were in line with expectations. In life and health reinsurance business, these clearly exceeded the expectation mainly due to the high mortality rate in India and South Africa. At ERGO, only minor effects resulted from Covid-19 in the second quarter. Operationally, the result developed favorably in all business fields.



Overall, Munich Re achieved a preliminary net profit of around €1.1bn in the stand-alone second quarter of the year 2021 (consensus of €808m*). The half-year result amounts to around €1.7bn. Munich Re is thus well on track to reach the annual target of €2.8bn, even though the probability of missing the stand-alone sub target of €400m set for the technical result in life and health reinsurance** has increased.



Munich Re will report on the definitive figures for the second quarter on 10 August, as planned.



*Mean value derived from the estimates of 14 financial analysts

**Including the result from reinsurance treaties with non-significant risk transfer






Contact:

Dr. Stefan Gehring

General Counsel & Group Chief Compliance Officer








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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: 1220355





 
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1220355  20-Jul-2021 CET/CEST







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