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Profile & Fundamentals

Munich Re Profile & Fundamentals

Name: Munich Re financial chart data preview
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Examine company identity, ownership, reported performance, valuation, balance-sheet resilience, dividends, buybacks, and material corporate events.

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Company and Market Context

Company Profile & Ownership

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München engages in the insurance and reinsurance businesses worldwide. The company operates through six segments: Life and Health Reinsurance, Property-Casualty Reinsurance, Global Specialty Insurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International. The company offers life and health reinsurance solutions, such as digital underwriting and advanced analytics solutions, health insurance management system, financial market risks, financing, portfolio risk management, digitalized investment-linked solution, data analytics, underwriting and claims, medical research, capital management, and health market, as well as MIRA digital suite that includes MIRA PoS, MIRApply insured and physician, claims risk assessment, and CLARA plus. It also provides property and casualty reinsurance solutions, including agricultural reinsurance; business advisory, personal lines, portfolio management, insurance consulting, commercial motor consulting; infrastructure risk; property insurance, location risk, insurance linked securities, and NatCatSERVICE for natural catastrophe loss database; prospective structured and retroactive reinsurance; risk transfer; cyber; and data analytics, REALYTIX ZERO, and cert2go. In addition, the company offers solutions for industry clients, such as corporate risk, new tech, green tech, parametric, and aviation and space solutions, as well as risk services. Further, it provides specialty property casualty insurance, such as professional liability, marine, cyber, aviation, and space for commercial and private customers. Additionally, the company offers life, property-casualty, health, legal protection, and travel insurance products under the ERGO brand; and insurance solutions for agriculture, captive, epidemic, cyber, and renewable energy sectors. The company was founded in 1880 and is based in Munich, Germany.

Company profile record

Münchener Rück AG

Common Stock · Financials · Reinsurance

Official website

Company

Company / asset: Münchener Rück AG
Security type: Common Stock
Sector: Financials
Industry: Reinsurance
HQ: 🇩🇪 Germany
Head office: Königinstrasse 107, Munich, Germany, 80802

Leadership & scale

Chief executive: Dr. Christoph Jurecka
CEO year born: 1974
Full-time employees: 44.6K
Fiscal year end: December

Fundamentals snapshot

Updated 2026-09-05

Market Cap: EUR 64.6B
P/E: 9.4x
Revenue (Q2 26): EUR 18.6B
Profit (Q2 26): EUR 2.2B
Dividend Yield: 3.5%
Revenue (FY 25): EUR 69.3B
Shares in public float: 125.8M
Insider ownership: 0%

Reporting & identifiers

Symbol: MUV2.XETRA
Listing: 🇩🇪 Germany | Dividend Tax: 26.38%
Ticker Currency: EUR
Income Statement Currency: EUR
Balance Sheet Currency: EUR
Cash Flow Currency: EUR
EPS Currency: EUR
Contract Type: SPOT
ISIN: DE0008430026
Asset ID: equity_0af2a148-6c81-5783-b2d1-59cb8b955df8

Ownership

Shares Outstanding

Shares outstanding

Annual reported shares outstanding. Values in shares.

Earnings, Profitability & Valuation

Earnings & Revenue

AI Review

The company's latest financial results demonstrate resilient profitability despite shrinking top-line sales. Management deliberately reduced full-year insurance revenue targets to 62 billion euros while maintaining its 6.3 billion euro net profit target, choosing to reject underpriced risk rather than chase volume. First-half net income reached nearly 4 billion euros, putting the business firmly on track to beat annual targets. This performance reveals that profit quality is structurally improving rather than riding a temporary wave. While property-casualty reinsurance margins normalized after an unusually quiet catastrophe season, recurring investment profits surged as bond portfolios turned over at higher interest rates. The financial trajectory shows a durable capital-compounding engine delivering return on equity above eighteen percent.

Revenue, Net Income, and Free Cash Flow

Revenue
Free cash flow
Net income

Annual reported financial results, converted using the statement's recorded USD conversion. Missing values are omitted. Values in USD.

Valuation

Historical P/E Ratio

Published P/E

Published valuation snapshots. Trailing four-quarter earnings where available; annual earnings otherwise. Non-positive earnings are omitted. Values in times earnings.

Profitability & Margins

AI Review

Profitability margins have undergone a lasting structural upgrade following higher interest rates and tightened insurance contracts. Operating margins remain healthy above twelve percent, while return on equity consistently exceeds eighteen percent. Exceptional first-half combined ratios around sixty-eight percent reflected a temporary weather dividend, but normalized underwriting margins remain historically strong near eighty-two percent. This durability is supported by high contract deductibles that shield the company from routine minor storm claims, forcing primary insurers to absorb high-frequency losses. Simultaneously, investment yields climbing from 2.4% toward 4.3% provide an enduring profit cushion. This dual-engine structure ensures group profitability remains highly resilient even as catastrophe pricing naturally softens across commercial insurance markets.

Profitability Margins

Gross margin
Operating margin
Net margin
Free cash flow margin

Annual gross, operating, net income and free cash flow divided by revenue for matching reporting dates. Values in percent.

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Reported Data Tables — chart preview

The following tables contain the same values as the financial charts above. Monetary values are USD; margins are percentages. Missing inputs are not estimated. Use is subject to the iPulse AI Terms of Service and applicable source rights.

Source: eodhd. Statement snapshots with chart transformations and ratios calculated by iPulse AI. Snapshot retrieved 2026-09-06.

Annual earnings and profitability
Period end	Revenue	Free cash flow	Net income	Gross margin	Operating margin	Net margin	Free cash flow margin
2016-12-31	59,028,220,000	3,319,920,000	2,734,800,000	83.21	6.95	4.63	5.62
2017-12-31	66,428,180,000	2,181,270,000	446,250,000	83.48	1.16	0.67	3.28
2018-12-31	59,356,380,000	3,417,720,000	2,633,400,000	81.64	6.65	4.44	5.76
2019-12-31	64,187,200,000	10,632,160,000	3,050,880,000	100	5.19	4.75	16.56
2020-12-31	71,539,580,000	8,807,180,000	1,477,420,000	100	2.62	2.07	12.31
2021-12-31	72,800,400,000	5,957,640,000	3,343,620,000	100	3.77	4.59	8.18
2022-12-31	68,594,490,000	-8,179,080,000	3,662,610,000	63.58	15.61	5.34	-11.92
2023-12-31	77,502,700,000	2,634,500,000	5,129,300,000	100	5.15	6.62	3.4
2024-12-31	71,870,240,000	2,940,080,000	5,912,400,000	63.21	12.6	8.23	4.09
2025-12-31	81,083,340,000	1,292,850,000	7,158,060,000	100	12.45	8.83	1.59

Published valuation snapshots
Period end	P/E (times earnings)	Earnings basis
2025-12-31	11.76	Trailing four quarters
2024-12-31	11.36	Trailing four quarters
2023-12-31	10.96	Trailing four quarters
2022-12-31	12.35	Annual net income
2021-12-31	12.44	Annual net income

Shares outstanding — chart values
Reporting date	Shares outstanding
2017-01-01	140,277,800
2018-01-01	140,277,800
2019-01-01	140,277,800
2020-01-01	140,277,800
2021-01-01	140,098,900
2022-01-01	139,050,100
2023-01-01	134,599,800
2024-01-01	131,432,400
2025-01-01	127,961,900
2026-01-01	126,557,100

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Dividends & Actions
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