Munich Re exceeds 2025 profit forecasts

Munich Re has released its annual results for the financial year ended 31 December 2025.

The German reinsurer closed the year with a net profit of 6.121 billion EUR (7.2 billion USD), representing a 7.6% year-on-year increase. For the fifth consecutive year, earnings surpassed analysts’ expectations, which had forecast a profit of 6 billion EUR (7.1 billion USD).

Insurance revenue remained broadly stable at 60.412 billion EUR (71.1 billion USD), compared with 60.83 billion EUR (63.4 billion USD) in 2024.

The technical result improved by 12.7% to 9.8 billion EUR (10.2 billion USD). Investment income rose 4.5% year-on-year to 7.514 billion EUR (7.8 billion USD). Meanwhile, the operating result increased by 11% to 8.876 billion EUR (9.2 billion USD).

Claims expenses related to natural disasters declined sharply by 53.7% to 887 million EUR (923.9 billion USD).

As of 31 December 2025, shareholders’ equity stood at 33.421 billion EUR (34.8 billion USD). Return on equity (ROE) reached 18.3%, while the solvency ratio stood at 298%, well above the optimal range of 175–220%.

At its upcoming Annual General Meeting, Munich Re will propose a dividend of 24 EUR (25 USD) per share for the 2025 financial year.