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Munich Re reported insurance revenue of 45.51 billion EUR (50.8 billion USD) for the nine months ended 30 September 2024, against 42.908 billion EUR (45.4 billion USD) a year earlier, marking a 6.1% increase.
The German reinsurer closed the first three quarters of the current year with a net profit of 4.692 billion EUR (5.2 billion USD), up by 30.6% on the 3.593 billion EUR (3.8 billion USD) posted during the same period of 2023.
Operating income climbed 23.8% year-on-year to 6.333 billion EUR (7.1 billion USD).
Shareholder's equity stood at 31.425 billion EUR (35.1 billion USD). As for return on equity (ROE), it amounted to 20,1%.
At 292%, the solvency ratio was above the optimal range of 175%-220%.
Munich Re is expecting insurance revenue of 61 billion EUR (65.6 billion USD) and a net income of over 5 billion EUR (5.4 billion USD) for the full year 2024.
