Munich Re [4] has ended the 2022 financial year with a 16.6% growth in its net profit reaching 3.419 billion EUR (3.6 billion USD). This performance has exceeded the reinsurer's objectives which were aiming for 3.3 billion EUR (3.5 billion USD) for the whole past year.
The turnover has progressed by 12.7% to stand at 67.133 billion EUR (71.7 billion USD) against 59.567 billion EUR in 2021.
The operating result amounted to 3.582 billion EUR (3.8 billion USD), increasing by 1.8% over twelve months. The solvency ratio was at a strong level with 260%. The return on equity (ROE) came to 13.5%.
As at 31 December 2022, the pandemic has cost the group's life and health class of business 344 million EUR (367.2 million USD). The P&C activity has incurred natural catastrophe losses worth 4.173 million EUR (4.5 million USD). The company's combined ratio has nevertheless improved by 3.4 points to 96.2%, despite the above-mentioned losses.
Pending the General Assembly's approval, the proposed dividend will be 11.6 EUR (12.4 USD) per share.