Munich Re reports net earnings of 2,140 million euros for Q1, up 68.4% on Q1 2023.

EPS came to 15.96 euros, up 71.7%.

"Every business sector played its part in this impressive performance", stresses Christoph Jurecka, the firm's CFO, who points out that Munich Re was able to exploit attractive growth opportunities in a context of persistently high interest rates.

At March 31, Munich Re had equity of ME 31,226, up on the previous quarter (ME 29,772).

Munich Re's solvency ratio has increased to 273% (vs. 267% at December 31, 2023), which remains above the optimal range of 175% to 220%.

Munich Re specifies that a share buyback of 1.5 billion euros is planned.
We still expect to generate a profit of 5 billion euros in 2024, but it is now likely that we will exceed this target," explains the CFO.

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