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MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT

(MUV2)
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Münchener Rückversicherungs Gesellschaft : Munich Re says on track for 2021 profit target after Q1 results

05/06/2021 | 01:52am EDT

* 2021 pandemic impact will be limited

* Company had already flagged stronger-than-expected quarter

FRANKFURT, May 6 (Reuters) - The German reinsurance group Munich Re said on Thursday it was on track for its 2021 profit target after stronger than expected first-quarter earnings.

The company, whose profit plunged in 2020 as a result of the pandemic, said that the impact in 2021 would be limited.

Despite a cold spate in the United States that resulted in big claims in the period, "We are nevertheless on track to meet our annual target of 2.8 billion euros ($3.36 billion) thanks to robust operating earnings," said finance chief Christoph Jurecka.

The company had already flagged last month stronger-than-expected first-quarter profit.

Net profit in the three month period was 589 million euros, up from 221 million a year earlier. ($1 = 0.8328 euros) (Reporting by Tom Sims Editing by Riham Alkousaa and Caroline Copley)


© Reuters 2021
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Financials
Sales 2021 56 367 M 67 405 M 67 405 M
Net income 2021 2 802 M 3 350 M 3 350 M
Net Debt 2021 272 M 325 M 325 M
P/E ratio 2021 12,1x
Yield 2021 4,31%
Capitalization 33 673 M 40 091 M 40 267 M
EV / Sales 2021 0,60x
EV / Sales 2022 0,59x
Nbr of Employees 39 741
Free-Float 100,0%
Chart MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
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Technical analysis trends MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 240,35 €
Average target price 275,07 €
Spread / Average Target 14,4%
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Managers and Directors
NameTitle
Joachim Wenning Chairman-Management Board
Christoph Jurecka Chief Financial Officer
Nikolaus von Bomhard Chairman-Supervisory Board
Nicholas John Gartside Chief Investment Officer
Frank Fassin Independent Member-Supervisory Board
Sector and Competitors