Munich Re profits reach $3.62b in profit

The insurer beat its profit guidance of $3.3b.

Munich Re beat its profit guidance of $3.3b, reaching $3.62b in the 2022 financial year, according to its latest financial statement.

The group’s profit in Q4 2022 amounted to €1.6b. Gross premiums written rose by 12.7% to $71.17b year-on-year.

Munich Re said it s on track to meet the financial targets specified in its Ambition 2025 strategy programme. In the 2022 financial year, the return on equity (RoE) amounted to 13.5%. Earnings per share rose by 17.6% to $26.11 in 2022. 

“Munich Re absorbed the crises of 2022 well and continues to grow profitably. We are robust, both financially and in terms of capital. Our broadly diversified business portfolio not only makes us more resilient, but also opens up new earnings prospects. In times of great uncertainty due to war and volatile capital markets, our clients value reliability. Our shareholders will benefit from both an increased dividend and a new round of share buy-backs,” Joachim Wenning, Chair of the Board of Management of Munich Re said.