Munich Re Surpasses Profit Target for Fourth Consecutive Year, Sets Ambitious Goal for 2025

Munich – Munich Re has once again outperformed expectations, reporting a net profit of €5.7 billion for the 2024 financial year—€700 million above its original target. This marks the fourth consecutive year of exceeding profit goals, reflecting the company’s strong performance under its five-year Ambition 2025 strategy.

Munich Re’s earnings per share rose to €42.78, and its return on equity increased to 18.2%, up from 15.8% the previous year. The company’s solvency ratio climbed to 287%, well above the optimal range of 175–220%. The total technical result for the year surged to €8.9 billion, while investment income reached €7.2 billion, benefiting from strong equity market trends and rising interest rates.

The reinsurance segment delivered a net profit of €4.88 billion, surpassing its initial target of €4.2 billion. Life and health reinsurance significantly exceeded expectations, generating a technical result of €2.1 billion against a target of €1.45 billion. Meanwhile, property-casualty reinsurance saw its net profit rise to €3.2 billion, with an improved combined ratio of 82.4%.

For 2025, Munich Re aims to increase its net profit to €6 billion, with projected insurance revenue of €64 billion. The reinsurance business is expected to generate €5.1 billion in net profit, while ERGO is set to contribute approximately €900 million. The company anticipates a continued favorable market environment, maintaining a combined ratio of 79% in property-casualty reinsurance and 90% in its newly established Global Specialty Insurance segment.