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    MUV2   DE0008430026

MUNICH RE

(MUV2)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 09/24 03:59:39 pm
237.625 EUR   -0.16%
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Münchener Rückversicherungs Gesellschaft : Munich Re Q2 profit up around 90%, beating expectations

07/20/2021 | 10:28am EDT
FILE PHOTO: The logo of reinsurance company Munich Re Group is seen next to the entrance of their headquarters in Munich

FRANKFURT (Reuters) - Munich Re's net profit in the second quarter rose around 90% from a year earlier, beating expectations and giving it confidence of meeting its 2021 profit target.

The German reinsurer said in an unscheduled announcement that expenses for major losses were below average in the period, due to relatively low losses from natural catastrophes.

Preliminary net profit rose to around 1.1 billion euros ($1.3 billion), the company said. That is up from 579 million euros last year when it was hit by heavy losses related to the coronavirus pandemic.

It is also higher than the 808 million euros expected by analysts.

Munich Re said that it was "well on track" to meet its annual profit target of 2.8 billion euros.

The company didn't make any reference to damage from last week's severe floods in western Europe, expected to cost the industry billions.

Complete figures for the quarter are scheduled to be published on Aug. 10.

($1 = 0.8498 euros)

($1 = 0.8493 euros)

(Reporting by Tom Sims and Alexander Huebner; Editing by Douglas Busvine)


© Reuters 2021
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Analyst Recommendations on MUNICH RE
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Financials
Sales 2021 58 272 M 68 284 M 68 284 M
Net income 2021 2 763 M 3 238 M 3 238 M
Net Debt 2021 272 M 319 M 319 M
P/E ratio 2021 11,9x
Yield 2021 4,37%
Capitalization 33 281 M 38 970 M 38 998 M
EV / Sales 2021 0,58x
EV / Sales 2022 0,56x
Nbr of Employees 40 607
Free-Float 100,0%
Chart MUNICH RE
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Technical analysis trends MUNICH RE
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 237,55 €
Average target price 272,28 €
Spread / Average Target 14,6%
EPS Revisions
Managers and Directors
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
1st jan.Capi. (M$)
MUNICH RE-1.98%39 131
SWISS RE LTD-3.50%25 152
HANNOVER RÜCK SE18.04%21 767
EVEREST RE GROUP, LTD.8.24%10 128
REINSURANCE GROUP OF AMERICA, INCORPORATED-4.59%7 519
RENAISSANCERE HOLDINGS LTD.-14.81%6 675