Munchener ruckvers: 2023 annual results in line with expectations

( – The German reinsurer Munich Re announced on Tuesday a more marked increase than expected in its dividend after 2023 annual results generally in line with expectations.

The Bavarian group, world number one in its sector, specified that it would pay a coupon of 15 euros per share for the 2023 financial year, a figure up 29.3% compared to 2022 and higher than market expectations. analysts

At 1,004 million euros, its net profit in the fourth quarter slightly exceeded the consensus (980 million euros), while its profit for the whole year, of 4.6 billion euros, exceeded the target of 4.5 billion that he had set himself.

Its combined ratio, a key measure of profitability in insurance, deteriorated to 85.2% compared to 83.2% at the end of 2022.

Munich Re, which considers itself well equipped to face the new threats posed by extreme weather phenomena and cyberattacks, has confirmed its forecast of a net profit of around five billion euros across the entire current exercise.

These elements did not prevent Munich Re shares from falling 0.4% late Tuesday morning on the Frankfurt Stock Exchange.

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