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Munich Re today reiterated that it expects to earn a net profit of €5 billion in 2024

Munich Re's better-than-expected 12% drop in Q4 profit

The German reinsurer Munich Re today said it posted a 12% fall in net profit in the fourth quarter, a drop that was not as steep as analysts had expected and a result that helped the company surpass its full-year earnings target.

Business • 27 Feb 24

Munich Re's full year profits of €3.419 billion profit beat both analyst and company expectations of about €3.3 billion

Munich Re beats 2022 profit target with 74% Q4 jump

German reinsurer Munich Re has today beaten its full-year earnings target with a 16.7% gain despite Ukraine-related claims and after fourth-quarter net profit jumped by a better than expected 74% on equity disposals and lower tax payments.

Business • 23 Feb 23

The US was badly hit by Hurricane Ida during 2021

Natural disasters cost insurers $120 billion in 2021

Marked by devastating hurricanes and cold snaps in the US, 2021 proved the second-most costly year on record for the world's insurers, Munich Re said today, warning that extreme weather was more likely with climate change.

Business • 10 Jan 22

Most reinsurers have stepped back from offering insurers bespoke or direct cover for coal projects

Reinsurers look at dumping coal from bulk-buy policies

Major reinsurers have already pulled back from providing bespoke cover for coal projects as part of efforts to meet global climate change commitments.

Business • 17 Jun 21

Munich Re said it expects its profits to rebound to €2.8 billion in 2021

Munich Re's 2020 profit plunges 55% as pandemic hits

German reinsurance group Munich Re expects net profit to bounce back this year after more than halving in 2020 as the coronavirus crisis helped drive claims to a near-decade high.

Business • 25 Feb 21

Claims for cancelled and postponed events due to Covid-19 may exceed €1 billion this year, Munich Re has warned

Munich Re expects €1 billion bill for coronavirus claim

Munich Re said today it expected to receive claims for cancelled or postponed events because of the coronavirus crisis in excess of €1 billion this year after it posted a 65% drop in first-quarter profit.

Business • 07 May 20

Munich RE CEO Joachim Wenning confirmed it as looking to unite staff scattered around London in a building it would own

Munich Re to cut 900 jobs, nudges up profit forecast

Munich Re, the world's largest reinsurer, has announced plans to cut 900 jobs, generating savings that also helped it to nudge up profit targets for this year and beyond.

Business • 15 Mar 18

Munich Re had warned it could miss its full-year net profit goal after a spate of storms, earthquakes and fires in the US

Munich Re ekes out small profit after natural disasters

Munich Re announced a preliminary 8% rise in fourth quarter net profit today but only a small profit for the full year after a series of natural disasters.

Business • 06 Feb 18

Insurers will have to pay claims of around $135 billion for 2017, a new report shows

Insured losses in 2017 most ever at $135 billion

Insurers will have to pay claims of around $135 billion for 2017, the most ever, following a spate of hurricanes, earthquakes and fires in North America, according to a closely watched report.

Business • 04 Jan 18

Irma was one of the most powerful Atlantic Ocean storms on record

Munich makes first warning by reinsurer on Irma impact

Germany's Munich Re warned it could miss its profit target this year, the first major reinsurer to flag a hit to earnings from damage caused by hurricanes Harvey and Irma.

Business • 14 Sep 17

Munich Re said it is on on track to meet its profit target for the full year

Munich Re affirms profit outlook after Q1 profit rise

German reinsurance giant Munich Re said its net profit rose to €557m in the first quarter of this year, which it said kept it on track to meet its profit target for the full year.

Business • 09 May 17

Financial losses from natural catastrophes in the first 6 months of 2016 came to $70 billion compared with $59 billion a year ago

Natural catastrophe losses up sharply in H1 2016

Financial losses from natural catastrophes surged strongly in the first six months of this year, new figures show.

Business • 12 Jul 16

The Government had instructed the ESB to raise a €400m divident from the sale of non-strategic assets

ESB sells stake in Marchwood power station

The ESB has sold its stake in the Marchwood Power Limited to German insurance firm Munich Re.

Business • 21 Nov 13

European floods hit Munich Re's quarterly earnings

Markets, floods hit profits at Munich Re

German reinsurer Munich Re said its first-quarter net profit fell 33% to €543m as losses from floods in central Europe weighed on earnings.

Business • 06 Aug 13

European floods year's costliest disaster so far

Last month's flooding in central Europe caused more than $16 billion in damage, about a quarter of it insured.

Business • 09 Jul 13

Munich Re raises prices for catastrophe coverage

Low disaster costs give Munich Re Q1 profit lift

Reinsurer Munich Re said today its first-quarter net profit rose 25% as the company saw modest outlays for natural disaster.

Business • 07 May 13

Superstorm Sandy cost Munich Re about €800m

Munich Re profit up on lower disaster losses

German reinsurer Munich Re saw profit more than quadruple last year as payouts for natural disasters fell and the company moved past losses on Greek bonds.

Business • 12 Mar 13