Munich Re: forecasts confirmed, dividend unchanged
(CercleFinance.com) - German reinsurer Munich Re confirmed its earnings targets for FY 2021 on Thursday, in particular, thanks to solid policy renewals in January and premium increases.
Q4 net profit, which is has already published, came to 212 million euros, down slightly from the 217 million euros recorded in the same period the previous year.
FY net profit came in at 1.2 billion euros, less than half the 2.7 billion euros in 2019, although this figure comes as no real surprise after the preliminary results unveiled last December.
Analysts especially welcomed the robust level of reinsurance treaty renewals, as well as the improvement of its combined ratio - an important measure of insurers' profitability - which rose to 105.6% in 2020 against 100.2% in 2019.
Munich Re also announced that it would maintain its annual dividend at 9.80 euros per share and confirmed its target profit of around 2.8 billion euros this year.
The share rose by over 2% on the Frankfurt Stock Exchange following these announcements and figures.
Copyright (c) 2021 CercleFinance.com. All rights reserved.
Q4 net profit, which is has already published, came to 212 million euros, down slightly from the 217 million euros recorded in the same period the previous year.
FY net profit came in at 1.2 billion euros, less than half the 2.7 billion euros in 2019, although this figure comes as no real surprise after the preliminary results unveiled last December.
Analysts especially welcomed the robust level of reinsurance treaty renewals, as well as the improvement of its combined ratio - an important measure of insurers' profitability - which rose to 105.6% in 2020 against 100.2% in 2019.
Munich Re also announced that it would maintain its annual dividend at 9.80 euros per share and confirmed its target profit of around 2.8 billion euros this year.
The share rose by over 2% on the Frankfurt Stock Exchange following these announcements and figures.
Copyright (c) 2021 CercleFinance.com. All rights reserved.