Munich Re outlines Q3 2023 efficiency

Munich Re has reported its monetary outcomes for the three months ended September 30, 2023.

Of the group’s internet consequence within the interval, €995 million got here from the reinsurance section. Damaged down additional, €351 million was contributed by life & well being reinsurance; €644 million, property-casualty reinsurance.

Commenting on the figures, chief monetary officer Christoph Jurecka mentioned: “Munich Re’s excellent enterprise efficiency continued seamlessly within the third quarter. In contrast to final 12 months, we benefitted from a relatively delicate hurricane season within the North Atlantic. Accordingly, major-loss expenditure in property-casualty reinsurance was decrease than anticipated, regardless of varied different pure catastrophes.

“Sturdy efficiency in our different working segments rounded out the constructive outcomes. Finally, we will report a internet results of practically €1.2 billion for the third quarter and €3.6 billion for the primary 9 months of the 12 months. We’re assured that we are going to surpass our earlier annual goal of €4 billion and have raised the steerage to €4.5 billion.”   

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