Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München reports Q3 results; reaffirms FY outlook

* Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München press release [https://www.munichre.com/content/dam/munichre/mrwebsiteslaunches/2025-q3/MunichRe-Quarterly-Statement-3-2025_en.pdf/_jcr_content/renditions/original./MunichRe-Quarterly-Statement-3-2025_en.pdf] (OTCPK:MURGY [https://seekingalpha.com/symbol/MURGY]): Q3 net result rises to €5.2bn for Q1–3.
* Property-casualty reinsurance & Global Specialty Insurance: Belowaverage major-loss expenditure ensures low combined ratios in Q3: 62.7% & 82.8%.
* Life and health reinsurance: Unfavourable claims experience in Q3 dampens total technical result (€314m); strong new business particularly in the US and UK.
* ERGO: High contribution of €304m to net result.
* Munich Re’s solvency ratio3 increased slightly to 293% (31 December 2024: 287%), thus remaining above the target corridor of 175–220%.
* In Q3 2025, the annualised return on equity (RoE) amounted to 24.2% (11.5%), and to 20.8% (19.9%) in Q1–3.
* OUTLOOK CONFIRMED: Munich Re expects net result of €6.0bn in 2025.
* "Munich Re is well positioned to achieve its guidance of €6bn for the year. In reinsurance, insurance revenue of €39bn (previously €40bn) is now expected due to premium adjustments, the effects of renewals, and exchange rate developments. The insurance revenue forecast for the Group is therefore €61bn (previously €62bn). Mainly due to low major-loss expenditures, a combined ratio of around 74% (previously around 79%) is now expected in the property-casualty reinsurance segment, while a combined ratio of about 87% (previously approximately 90%) is now forecast for the GSI segment. All other expectations for 2025 remain unchanged compared to the information in the 2025 half-year financial report published in August. "

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