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MarketScreener Homepage  >  Equities  >  Xetra  >  Muenchener Rueckversicherung AG    MUV2   DE0008430026

MUENCHENER RUECKVERSICHERUNG AG

(MUV2)
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Muenchener Rueckversicherung : Munich Re achieves a strong result in Q3 and will likely surpass the 2019 forecast

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10/18/2019 | 05:09am EST

Munich Re generated a consolidated result of approximately €850m in the third quarter, despite high major-loss expenditure. The Q3 result is due to good operational performance, strong currency gains, and a very good investment result.

Munich Re expects to beat its target for the consolidated result of €2.5bn for 2019, despite typically considerable uncertainties about developments in major losses and the capital markets during the rest of the year.

As always, the figures are subject to the outcome of the ongoing quarterly closing, and will be published by Munich Re as planned on 7 November 2019.

For media inquiries please contact:

Group Media Relations: Jörg Allgäuer
Tel.: +49 89 3891-8202
Mobile: +49 171 8384838
jallgaeuer@munichre.com

Media Relations North America: Jodi Dorman
Tel.: +1 609 243-4533
Mobile: +1 908 391-2427
jdorman@munichreamerica.com

Media Relations Asia-Pacific: Faith Thoms
Tel.: +65 63180762
Mobile: +65 83390125
fthoms@munichre.com

Munich Re is one of the world's leading providers of reinsurance, primary insurance and insurance-related risk solutions. The group consists of the reinsurance and ERGO business segments, as well as the capital investment company MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. It offers customers financial protection when faced with exceptional levels of damage - from the 1906 San Francisco earthquake through to the 2017 Atlantic hurricane season and to the California wildfires in 2018. Munich Re possesses outstanding innovative strength, which enables it to also provide coverage for extraordinary risks such as rocket launches, renewable energies, cyberattacks, or pandemics. The company is playing a key role in driving forward the digital transformation of the insurance industry, and in doing so has further expanded its ability to assess risks and the range of services that it offers. Its tailor-made solutions and close proximity to its customers make Munich Re one of the world's most sought-after risk partners for businesses, institutions, and private individuals.

Disclaimer
This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to make them conform to future events or developments.

Munich, 18 October 2019

Münchener Rückversicherungs-Gesellschaft
Aktiengesellschaft in München
Media Relations
Königinstraße 107
80802 München

Disclaimer

Munich Re Group - Münchener Rück AG published this content on 18 October 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 October 2019 09:08:07 UTC

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Financials (EUR)
Sales 2019 51 073 M
EBIT 2019 4 373 M
Net income 2019 2 849 M
Debt 2019 292 M
Yield 2019 3,80%
P/E ratio 2019 13,0x
P/E ratio 2020 12,6x
EV / Sales2019 0,72x
EV / Sales2020 0,70x
Capitalization 36 493 M
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Technical analysis trends MUENCHENER RUECKVERSICHERU
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 26
Average target price 234,36  €
Last Close Price 256,40  €
Spread / Highest target 18,0%
Spread / Average Target -8,60%
Spread / Lowest Target -33,7%
EPS Revisions
Managers
NameTitle
Joachim Wenning Chief Executive Officer
Nikolaus von Bomhard Chairman-Supervisory Board
Christoph Jurecka Chief Financial Officer
Frank Fassin Independent Member-Supervisory Board
Benita Ferrero-Waldner Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
MUENCHENER RUECKVERSICHERUNG AG34.56%40 315
SWISS RE17.29%30 913
HANNOVER RÜCKVERSICHERUNG43.08%22 435
EVEREST RE GROUP, LTD22.69%10 896
IRB - BRASIL RESSEGUROS S.A.33.75%8 311
RENAISSANCERE HOLDINGS LTD.38.28%8 106