DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Despite high losses, Munich Re achieves a result of around EUR0.4bn in Q3, and maintains its annual guidance for 2021 19-Oct-2021 / 13:43 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement.

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In Q3 2021, Munich Re's result was burdened by high losses from natural catastrophes. The company estimates that windstorm Bernd, which led to flooding and flash floods in Germany and neighbouring countries, will cost roughly EUR0.6bn in the segments property-casualty reinsurance and ERGO Property-casualty Germany. And in the USA, Hurricane Ida caused losses totalling roughly EUR1.2bn in property-casualty reinsurance. Thanks to continued positive performance in all segments and a high investment result - also due in part to large gains on disposals - as well as a high currency translation result, Munich Re nevertheless achieved a preliminary result of around EUR0.4bn in Q3 (consensus: -EUR10m*). Munich Re thus attained a result of roughly EUR2.1bn for the first nine months. For the full year 2021, Munich Re anticipates that it will still meet its overall profit target of EUR2.8bn. This forecast takes into account higher COVID-19-related losses for life and health reinsurance than expected at the time the Q2 results were announced. As already intimated at the time, Munich Re will therefore not reach its technical result target** of EUR400m for this year. In property-casualty reinsurance, there were no noteworthy COVID-19 losses in Q3.

Munich Re will announce its final Q3 result, as scheduled, on 9 November. * Average of estimates from 15 financial analysts ** Including the result from insurance contracts with non-significant risk transfer Contact: Dr. Stefan Gehring General Counsel & Group Chief Compliance Officer

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19-Oct-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

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Language:     English 
Company:      Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München 
              Königinstraße 107 
              80802 München 
              Germany 
Phone:        +49(0) 89 3891-0 
Fax:          +49(0) 89 399 056 
E-mail:       shareholder@munichre.com 
Internet:     www.munichre.com 
ISIN:         DE0008430026, DE0008430026 
WKN:          843002, 843002 
Indices:      DAX, EURO STOXX 50 
Listed:       Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, 
              Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Mailand 
EQS News ID:  1241834 
 
End of Announcement  DGAP News Service 
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1241834 19-Oct-2021 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1241834&application_name=news

(END) Dow Jones Newswires

October 19, 2021 07:43 ET (11:43 GMT)