Business description: Munich Re

Münchener Rückversicherungs-Gesellschaft (Munich Re) is one of the world leaders in reinsurance. Insurance revenue breaks down by activity as follows:

- reinsurance (49.8%): non-life reinsurance (59.5% of insurance revenue) and life and health reinsurance (40.5%);

- insurance (35.8%): life and health insurance (47.6% of insurance revenue) and non-life insurance (21.7%). The remaining insurance revenue (30.7%) are from international insurance activities;

- specialty insurance (14.3%): cyber, aviation, space, professional indemnity, marine, and other specialty insurances.

Insurance revenue is distributed geographically as follows: Germany (26.8%), Europe (29.9%), the United States (26.1%), North America (3.5%), Asia and Australasia (9.2%), Latin America (2.4%), Africa and the Middle East (2.1%).

Number of employees: 44,369

Sales by Activity: Munich Re

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Reinsurance - Property-casualty (Excluding Global Specialty Insurance)

28.73B 33.46B 26.8B 27.68B 18.88B

ERGO - Germany

3.97B 4.1B 4.66B 4.76B 15.65B

Reinsurance ­ Life and Health

12.4B 13.3B 11.52B 12.66B 12.71B

Global Specialty Insurance

13.04B 11.8B 9.86B 9.9B 8.16B

ERGO - International

5.34B 4.71B 5.56B 5.91B 6.72B

Geographical breakdown of sales: Munich Re

Fiscal Period: December 2021 (EUR) 2022 (EUR) 2023 (EUR) 2024 (EUR) 2025 (EUR)

Germany

- - - 15.89B 16.2B

United States

- - - 16.93B 15.77B

United Kingdom

- - - 8.37B 8.46B

Europe - Others

- - - 3.94B 4.41B

Poland

- - - 2.33B 2.52B

Canada

- - - 2B 2.09B

Australia

- - - 1.79B 1.81B

Spain

- - - 1.57B 1.52B

Asia and Australasia - Others

- - - 1.49B 1.48B

Latin America

- - - 1.44B 1.47B

Italy

- - - - 1.12B

China

- - - 1.01B 962M

India

- - - 804M 826M

Japan

- - - 577M 503M

United Arab Emirates

- - - 544M 435M

South Africa

- - - 538M 420M

Africa, Middle East - Others

- - - 581M 417M

Belgium

- - - 1.03B -

Executive Committee: Munich Re

Manager TitleAgeSince
Chief Executive Officer 51 -
Director of Finance/CFO - 2025-12-31
Chief Investment Officer 51 2019-03-17
Investor Relations Contact - -
Corporate Officer/Principal 53 2022-11-30

Composition of the Board of Directors: Munich Re

Director TitleAgeSince
Director/Board Member 66 2009-04-21
Director/Board Member 73 2014-04-29
Director/Board Member 56 2014-04-29
Director/Board Member 64 2014-04-29
Director/Board Member 71 2016-04-26
Director/Board Member 64 2017-01-02
Director/Board Member 67 2017-07-03
Chairman 69 2019-04-29
Director/Board Member 56 2019-04-29
Director/Board Member 57 2019-04-29

Shareholders: Munich Re

NameEquities%Valuation
Goldman Sachs Asset Management BV
0.2135 %
271,060 0.2135 % 162 M €
Skagen AS
0.207 %
262,855 0.207 % 158 M €
Capfi Delen Asset Management NV
0.183 %
232,293 0.183 % 139 M €
Sjunde AP-fonden
0.1531 %
194,335 0.1531 % 116 M €
Aristotle Capital Management LLC
0.1463 %
185,797 0.1463 % 111 M €
NameEquities%Valuation
Aristotle Capital Management LLC
0.1243 %
7,892,734 0.1243 % 95 M €
RhumbLine Advisers LP
0.003354 %
212,903 0.003354 % 3 M €
Hantz Financial Services, Inc.
0.00326 %
206,942 0.00326 % 2 M €
GAMMA Investing LLC
0.000624 %
39,616 0.000624 % 474 758 €
Atlas Capital Advisors, Inc.
0.000411 %
26,080 0.000411 % 312 543 €

Holdings: Munich Re

NameEquities%Valuation
2,200,320 19.1% 310 M $
5,297,781 1.73% 243 M $
1,152,072 0% 230 M $
474,362 0.01% 193 M $
335,108 0.01% 140 M $
319,390 0.01% 123 M $
392,037 0% 104 M $
274,158 0.13% 103 M $
3,451,524 0.25% 101 M $
321,264 0.13% 94 M $

Company details: Munich Re

Münchener Rückversicherungs-Gesellschaft AG

Königinstrasse 107

80802, Munich

+49 89 38 91 0

http://www.munichre.com
address Munich Re(MUV2)

Group companies: Munich Re

NameCategory and Sector
Insurance Brokers/Services
Electric Utilities
Electric Utilities
Specialty Insurance
Munich Re Syndicate Labuan Ltd.

Property & Casualty Reinsurance

Change 5d. change 1-year change 3-years change Capi.($)
+1.03%-5.78%-16.61%+46.62% 69.79B
+0.59%-2.94%-14.54%+24.68% 33.27B
+1.06%+0.04%+1.03%-7.06% 13.92B
+2.19%-1.98%+19.56%+48.02% 12.54B
+3.24%+3.18%+51.04% - 3.16B
+1.28%-2.09%+19.33%+155.39% 2.7B
-1.29%-2.91%-24.62%+108.97% 1.16B
+0.22%+4.15%+25.41%-6.17% 916M
-8.83%-1.31%+8.50%+47.67% 845M
+1.04%-1.90%+29.01%+82.88% 581M
Average +0.05%-1.15%+9.81%+55.67% 13.89B
Weighted average by Cap. +1.00%-3.76%-8.29%+38.37%
Trader
Investor
-
Global
-
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
HOLD
Number of Analysts
17
Last Close Price
473.00EUR
Average target price
560.36EUR
Spread / Average Target
+18.47%

Quarterly revenue - Rate of surprise