Munich Re: preliminary Q3 results

For the third quarter of 2024, Munich Re has posted a preliminary net income of 900 million EUR (1 billion USD). This result was achieved, according to the reinsurer, despite the unusually high impact of the major natural catastrophe events that occurred during the period under review.

With 500 million EUR (558.1 million USD) in insured losses, Hurricane Helene in the United States was Munich Re's largest and most expensive claim in the third quarter of 2024. The company is also anticipating heavy expenses following the recent Hurricane Milton.

For the first nine months of 2024, net income amounted to 4.7 billion EUR (5.2 billion USD).

With this performance, the German group is expecting to exceed its annual profit target of 5 billion EUR (5.6 billion USD).

Munich Re's final Q3 results will be published on 7 November 2024.