Munich Re: results for the first three quarters of 2024

Munich Re reported insurance revenue of 45.51 billion EUR (50.8 billion USD) for the nine months ended 30 September 2024, against 42.908 billion EUR (45.4 billion USD) a year earlier, marking a 6.1% increase.

The German reinsurer closed the first three quarters of the current year with a net profit of 4.692 billion EUR (5.2 billion USD), up by 30.6% on the 3.593 billion EUR (3.8 billion USD) posted during the same period of 2023.

Operating income climbed 23.8% year-on-year to 6.333 billion EUR (7.1 billion USD).

Shareholder's equity stood at 31.425 billion EUR (35.1 billion USD). As for return on equity (ROE), it amounted to 20,1%.

At 292%, the solvency ratio was above the optimal range of 175%-220%.

Munich Re is expecting insurance revenue of 61 billion EUR (65.6 billion USD) and a net income of over 5 billion EUR (5.4 billion USD) for the full year 2024.