DGAP-Ad-hoc: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München: Munich Re achieves quarterly result of around EUR1.1bn 20-Jul-2021 / 15:49 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. =---------------------------------------------------------------------------------------------------------------------- In the second quarter of 2021, Munich Re's major-loss expenditure in property-casualty reinsurance business was below average, mainly as a result of comparatively low losses from natural catastrophes. COVID-19 related losses in the field of property-casualty reinsurance were in line with expectations. In life and health reinsurance business, these clearly exceeded the expectation mainly due to the high mortality rate in India and South Africa. At ERGO, only minor effects resulted from Covid-19 in the second quarter. Operationally, the result developed favorably in all business fields. Overall, Munich Re achieved a preliminary net profit of around EUR1.1bn in the stand-alone second quarter of the year 2021 (consensus of EUR808m*). The half-year result amounts to around EUR1.7bn. Munich Re is thus well on track to reach the annual target of EUR2.8bn, even though the probability of missing the stand-alone sub target of EUR400m set for the technical result in life and health reinsurance** has increased. Munich Re will report on the definitive figures for the second quarter on 10 August, as planned. *Mean value derived from the estimates of 14 financial analysts **Including the result from reinsurance treaties with non-significant risk transfer Contact: Dr. Stefan Gehring General Counsel & Group Chief Compliance Officer =---------------------------------------------------------------------------------------------------------------------- 20-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de =---------------------------------------------------------------------------------------------------------------------- Language: English Company: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München Königinstraße 107 80802 München Germany Phone: +49(0) 89 3891-0 Fax: +49(0) 89 399 056 E-mail: shareholder@munichre.com Internet: www.munichre.com ISIN: DE0008430026, DE0008430026 WKN: 843002, 843002 Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Mailand EQS News ID: 1220355 End of Announcement DGAP News Service =------------
1220355 20-Jul-2021 CET/CEST
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(END) Dow Jones Newswires
July 20, 2021 09:49 ET (13:49 GMT)