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MarketScreener Homepage  >  Equities  >  Xetra  >  Muenchener Rueckversicherung AG    MUV2   DE0008430026

MUENCHENER RUECKVERSICHERUNG AG

(MUV2)
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Muenchener Rueckversicherung : Munich Re announces profit target of €2.8bn for 2021; Profit outlook of €1.2bn for 2020

12/01/2020 | 12:13pm EST

Munich Re's Board of Management has today approved its profit guidance for 2021. Despite anticipated further COVID‑19 losses, Munich Re will seamlessly return to its pre-pandemic profit level of €2.8bn. Munich Re expects financial consequences from COVID-19 next year as well, but on a considerably smaller scale than in 2020. In reinsurance, COVID-19 claims will amount to approximately €500m, and the technical result will be reduced by €50m due to foregone premiums. The ERGO field of business anticipates negative effects on the net result totalling about €100m. Group premium income will rise to about €55bn in 2021 - despite a decrease in premium volume caused by the pandemic. The return on investment will be above 2.5%. Financial planning for 2021 is subject to the approval of the Supervisory Board.

On account of considerable uncertainty pertaining to the repercussions of COVID-19, Munich Re withdrew its profit forecast for this year on 31 March 2020. The Board of Management has today approved a revised forecast for this year, with Munich Re expecting a consolidated profit of €1.2bn for 2020. A profit of €200m has been forecast for Q4. As in Q1-Q3, there has been high expenditure for COVID‑19 in Q4. In 2020, Munich Re expects €3.4bn in reinsurance losses arising from COVID-19, with life and health reinsurance accounting for €360m and property-casualty reinsurance for €3.02bn. ERGO expects a negative COVID-19 impact of approx. €65m on the net result. Group premium income in 2020 is expected to total €54bn. High market volatility and the further fall in interest rates notwithstanding, the return on investment will be approx. 3%.

Disclaimer

Munich Re Group - Münchener Rück AG published this content on 01 December 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 December 2020 17:12:03 UTC


© Publicnow 2020
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Financials
Sales 2020 53 687 M 65 183 M 65 183 M
Net income 2020 1 228 M 1 491 M 1 491 M
Net Debt 2020 2 398 M 2 912 M 2 912 M
P/E ratio 2020 26,5x
Yield 2020 3,99%
Capitalization 33 231 M 40 203 M 40 347 M
EV / Sales 2020 0,66x
EV / Sales 2021 0,61x
Nbr of Employees 39 731
Free-Float 100,0%
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Muenchener Rueckversicherung AG Technical Analysis Chart | MUV2 | DE0008430026 | MarketScreener
Technical analysis trends MUENCHENER RUECKVERSICHERUNG AG
Short TermMid-TermLong Term
TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 261,62 €
Last Close Price 237,20 €
Spread / Highest target 29,0%
Spread / Average Target 10,3%
Spread / Lowest Target -19,5%
EPS Revisions
Managers and Directors
NameTitle
Joachim Wenning Chairman-Management Board
Nikolaus von Bomhard Chairman-Supervisory Board
Christoph Jurecka Chief Financial Officer
Frank Fassin Independent Member-Supervisory Board
Benita Ferrero-Waldner Independent Member-Supervisory Board
Sector and Competitors
1st jan.Capitalization (M$)
MUENCHENER RUECKVERSICHERUNG AG-2.31%40 203
SWISS RE LTD-0.19%26 051
HANNOVER RÜCK SE4.91%19 944
EVEREST RE GROUP, LTD.1.06%9 455
RENAISSANCERE HOLDINGS LTD.-3.96%8 232
REINSURANCE GROUP OF AMERICA, INCORPORATED-3.18%7 624