Munich Re [4] is expecting a consolidated profit of about 4 billion EUR (4.3 billion USD) for 2023, under the new IFRS 17 reporting standard. The return on investment would be around 2.2%.
In reinsurance, the German group would record a net profit of 3.3 billion EUR (3.5 billion USD). The combined non-life ratio would improve to 86%. In life and health reinsurance, Munich Re is forecasting a technical result of 1 billion EUR (1.06 billion USD).
The direct insurance subsidiary ERGO would account for 700 million EUR (45.4 million USD) of the group's 2023 result.
According to the German reinsurer, these forecasts and objectives are facing uncertainty related to the fragile macroeconomic developments, the volatile capital markets, the Covid-19 pandemic and the financial impact of the war in Ukraine.