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Munich Re: Second Tranche Of Share Buyback To Start Sept 5
Fitch Sees Reinsurance Rates Up 1-2% At January 2020 Renewals
Munich Re: Thinking About Raising Reserves For Boeing-Related Damages In Q3
Muenchener Rueckversicherungs Gesellschaft AG in Muenchen is a Germany-based company engaged in reinsurance and insurance business. The Company divides its operations into reinsurance, primary insurance, and Munich Health and Asset management. The Reinsurance business comprises five divisions: Life; Europe and Latin America; Germany, Asia Pacific and Africa; Special and Financial Risks, and Global Clients and North America. The business covers a range of products from traditional reinsurance products to solutions for risk assumption. The Company's primary insurance activities are combined into the ERGO Insurance Group (ERGO), which offers direct insurance, life, property-casualty, health, legal expenses and travel insurance products. It covers the Company's international health reinsurance business and health primary insurance outside Germany and engages the risk management services. The Asset management business handles the investment activities of Munich Re and ERGO.
Independent Chairman of the Supervisory Board
Honorary Chairman of the Supervisory Board
Chief Executive Officer, Member of the Management Board
Independent Vice Chairman of the Supervisory Board,
Chief Financial Officer, Member of the Management Board
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Munich Re <MUVGn.DE> is planning a job cuts at its headquarters and in the United States, according to an interview with the chief executive published on the company's intranet.
* Sees 2018 profit of 2.0-2.4 bln euros vs poll 2.6 blnJan renewals up 0.8 pct vs 0.5 pct decline year earlier
Munich Re posted a preliminary 8 percent rise in net profit in the fourth quarter but only eked out a small profit for the full year 2017 after a series of natural disasters in North America, the German reinsurer said on Tuesday.
* IAG IMPROVES CAPITAL EFFICIENCY AND REDUCES EARNINGS VOLATILITY
German reinsurer Munich Re aims to stabilise its annual net profit at "2 billion euros plus" for the next few years as low interest rates and price pressure hold back growth, its Chief Executive Joachim Wenning said.
* Clearance from watchdog Bafin seen a challenge (Adds details on valuation)
Munich Re's <MUVGn.DE> Ergo unit has dropped plans to sell run-off life insurance policies, saying non-binding offers received by the company were too low, it said late Tuesday.
* ERGO ENDS DISCUSSIONS CONCERNING SALE OF ITS GERMAN LIFE INSURANCE COMPANIES WITH TRADITIONAL LIFE INSURANCE PORTFOLIOS
Nikolaus von Bomhard, former CEO of Munich Re, will become supervisory board chairman at Deutsche Post, German monthly Manager Magazin reported, citing company sources.
* CFO sees worldwide "positive development" in reinsurance rates, which will be reflected in future profit
Insured losses from three big hurricanes in North America this year have cost the industry around $100 billion, German reinsurance giant Munich Re <MUVGn.DE> said on Thursday.
* Sees 2017 reinsurance combined ratio of around 112 percent versus year-earlier 97 percent, according to presentation slides
German reinsurance giant Munich Re posted a net loss of 1.4 billion euros ($1.62 billion) in the third quarter after a spate of major costly natural catastrophes in North America.
German reinsurer Munich Re's Ergo unit has received non-binding bids for its traditional life insurance business, which have ceased underwriting new contracts, it said on Wednesday.
Munich Re's primary insurance arm Ergo is forging ahead with plans to sell the life insurance books of units Ergo Leben and Victoria Leben, Handelsblatt daily reported on Monday, citing two people familiar with the matter.
Munich Re said its profit warning on Thursday did not necessarily mean that it would cut its dividend payment to shareholders.
* Shares drop 1.6 pct in pre-market trade (Adds further details, pre-market shares)
Major reinsurance group Munich Re said it was expecting a third-quarter loss of 1.4 billion euros ($1.7 billion) due to losses incurred from hurricanes Harvey, Irma and Maria.
Munich Re, the German reinsurance company, is working on ways to insure a new high-speed capsule transportation system, giving a boost to this new technology known as hyperloop.
The African arm of Germany's Munich Re <MUVGn.DE> has dropped KPMG as its auditor, the latest company to distance itself from the accountancy firm entangled in a scandal involving friends of South African President Jacob Zuma.
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