Muenchener Rueckversicherungs-Gesellschaft AG

Muenchener Rueckversicherungs-Gesellschaft is engaged in reinsurance, primary insurance and asset management. Co.'s international life business is written in the Life Division. The Global Clients and North America division manages accounts with international insurance groups. The Europe and Latin America division manages property-casualty business in Europe, Latin America and the Caribbean. The Germany, Asia Pacific and Africa division conducts property-casualty business in Germany, Africa, Asia, Australia and the Pacific Islands. The Special and Financial Risks division manages the classes of credit, aviation and space, agriculture, enterprise and contingency risks.
  • TickerMUV2
  • ISINDE0008430026
  • SectorNonlife Insurance
  • CountryGermany
Olivier Pauchaut

SMART INDUSTRIES & SERVICES: Insurance Q3 Top Picks: Allianz and Munich Re

SMART INDUSTRIES & SERVICES Insurance Q3 Top Picks: Allianz and Munich Re Looking back at Q2: going through a crisis with distinction, again What we see for Q3: poor earnings, solid solvencies… and the updated EIOPA/ACPR position on dividends Fair value adjustments following our new RFR/ERP Q3 Top Picks: Allianz and Munich Re

Munchener Ruckversicherungs AG: 1 director bought

A director at Munchener Ruckversicherungs AG bought 169 shares at 226.800EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. Th...

Olivier Pauchaut

SECTOR UPDATE | Financials & Fintech Insurance:When solvency goes, everything goes!

The quick and decisive action taken by central banks prevented a financial crisis that would have destroyed solvency margins for insurance and reinsurance groups, thereby allowing them to focus on the health crisis (insured costs) and the economic crisis (decline in insurable assets, investment losses). While the impacts are expected to be hefty, they should remain in the realm of an earnings event (impact of 15-35% on earnings initially expected for 2020, and probably some overspill into 2021), admittedly painful but manageable, and without becoming a solvency event (limited impact of 1-4% of...

Benoit Valleaux ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Louis Boujard, CFA
  • Martial Descoutures
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/08/2020

Since 2009, the outperformance of growth has been due to investors' determination to protect themselves against sluggish growth and falling interest rates. If we adopt a sequential point of view, these two parameters evolve in favour of value: 1/ by base effect, apparent growth is expected to be strong on the face of it; 2/ the rapid growth of debt and ultimately the inflationary effects of the relocation of value chains may push long rates up. We propose a list of 18 stocks with a Bu...

Benoit Valleaux ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Louis Boujard, CFA
  • Martial Descoutures
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/06/2020

Depuis 2009, la surperformance de la croissance s’explique par la volonté des investisseurs de se prémunir contre l’atonie de la croissance et la baisse des taux. Si l’on adopte un point de vue séquentiel, ces deux paramètres évoluent en faveur de la value : 1/ par effet de base la croissance apparente est appelée à être forte facialement ; 2/ la croissance rapide de l’endettement et à terme les effets inflationnistes de la relocalisation des chaines de valeur peuvent pousser les taux...

Jérôme VINERIER

Short term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €195.16. Breaking below the support at €175.01 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - MUENCHNER RUECK : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 195,16 €. La rupture du support à 175,01 € invaliderait cette tendance.

Jérôme VINERIER

Analyse court terme - MUENCHNER RUECK : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 195,16 €. La rupture du support à 175,01 € invaliderait cette tendance.

Jérôme VINERIER

Short term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €195.16. Breaking below the support at €175.01 would invalidate the trend.

Valérie GASTALDY

Medium term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €162.50.

Munchener Ruckversicherungs AG: 1 director bought

A director at Munchener Ruckversicherungs AG bought 169 shares at 226.800EUR and the significance rating of the trade was 54/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. Th...

Olivier Pauchaut

SMART INDUSTRIES & SERVICES: Insurance Q3 Top Picks: Allianz and Munich Re

SMART INDUSTRIES & SERVICES Insurance Q3 Top Picks: Allianz and Munich Re Looking back at Q2: going through a crisis with distinction, again What we see for Q3: poor earnings, solid solvencies… and the updated EIOPA/ACPR position on dividends Fair value adjustments following our new RFR/ERP Q3 Top Picks: Allianz and Munich Re

Olivier Pauchaut

SECTOR UPDATE | Financials & Fintech Insurance:When solvency goes, everything goes!

The quick and decisive action taken by central banks prevented a financial crisis that would have destroyed solvency margins for insurance and reinsurance groups, thereby allowing them to focus on the health crisis (insured costs) and the economic crisis (decline in insurable assets, investment losses). While the impacts are expected to be hefty, they should remain in the realm of an earnings event (impact of 15-35% on earnings initially expected for 2020, and probably some overspill into 2021), admittedly painful but manageable, and without becoming a solvency event (limited impact of 1-4% of...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

Munich Re : Fundamentals fully valued

>Favourable price momentum in P&C reinsurance - Munich Re continues to benefit from favourable pricing prospects in P&C reinsurance. Recall that the group recorded an average increase in prices of around 1.2% in the renewals last January (increase in volumes of 3.2%) and around 3% in the renewals last April (increase in volumes of 22.7%). We expect, notably taking into account the crisis, further price increases in P&C reinsurance in the next renewals in June and July...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

Munich Re : Des fondamentaux bien valorisés

>Une dynamique de prix favorable en réassurance dommages - Munich Re continue de bénéficier de perspectives de prix favorables en réassurance dommages. Rappelons que le groupe avait enregistré une hausse moyenne des prix d’environ 1.2% lors des renouvellements de janvier dernier (hausse du volume de 3.2%) et d’environ 3% lors des renouvellements d’avril dernier (hausse du volume de 22.7%). Nous anticipons, compte tenu notamment de la crise, une poursuite des hausses t...

Benoit Valleaux ...
  • Roland Pfaender,MBA,CFA,CCRA

ODDO : What can we learn from the publication of Q1 results?

Insurers have registered the initial impacts of the crisis in Q1 but we note the resilience of operating profitability, whilst solvency margins, albeit down, remain solid. The effects of the crisis are likely to impact Q2 results, but not significantly the outlook for 2021-2022 results. The sector is currently trading at attractive valuation multiples in view of its fundamentals. - >Q1 operating profit in line with forecasts - Insurers have reported solid results, give...

Benoit Valleaux ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Louis Boujard, CFA
  • Martial Descoutures
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 06/08/2020

Since 2009, the outperformance of growth has been due to investors' determination to protect themselves against sluggish growth and falling interest rates. If we adopt a sequential point of view, these two parameters evolve in favour of value: 1/ by base effect, apparent growth is expected to be strong on the face of it; 2/ the rapid growth of debt and ultimately the inflationary effects of the relocation of value chains may push long rates up. We propose a list of 18 stocks with a Bu...

Benoit Valleaux ...
  • Bruno Cavalier
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Louis Boujard, CFA
  • Martial Descoutures
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Stephane Houri
  • Sylvain Goyon, CFA

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/06/2020

Depuis 2009, la surperformance de la croissance s’explique par la volonté des investisseurs de se prémunir contre l’atonie de la croissance et la baisse des taux. Si l’on adopte un point de vue séquentiel, ces deux paramètres évoluent en faveur de la value : 1/ par effet de base la croissance apparente est appelée à être forte facialement ; 2/ la croissance rapide de l’endettement et à terme les effets inflationnistes de la relocalisation des chaines de valeur peuvent pousser les taux...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/08/2020

...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Benoit Valleaux
  • Delphine Brault
  • Fehmi Ben Naamane
  • Jean Sassus
  • Johanna Jourdain
  • Laurence Hofmann
  • Louis Boujard, CFA
  • Michael Foundoukidis
  • Olfa Taamallah
  • Philippe Ourpatian
  • Roland Pfaender,MBA,CFA,CCRA
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/05/2020

...

Benoit Valleaux ...
  • Charles Lepetitpas
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Nicolas Thorez
  • Nicolas David
  • Roland Pfaender,MBA,CFA,CCRA

ODDO BHF Small & MIDCAP MORNING NEWS - 04/17/2020

The impacts of the COVID-19 pandemic are massive on the hotel/leisure sector (2020e EPS forecast down 41%). They undermine the weakest players. Our preference henceforth goes to the most resilient business models and the most solid balance sheets; Advantage Accor and Whitbread. - ...

MUNCH.RVRS.GESELL.AG IN sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of MUNCH.RVRS.GESELL.AG IN (DE), a company active in the Reinsurance industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 3 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date June 5, 2020, the closing price was EUR 240.00 and its potential was estimated at EUR 252.00.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Munich Re – AGM 29 April 2020

General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by way of postal voting, particularly via electronic communication, or by granting authorisation to the proxies designated by the Company or other proxies.   In line with German law, the auditor of an insurance company like Munich Re is not appointed by the AGM but by the Supervisory Board.   Item 2: In view of...

Expert Corporate Governance Service (ECGS)

Muenchener Rueckversicherungs-Gesellschaft AG (Munich Re) - AGM 30 April 2019

General: In line with German law, the auditor of an insurance company like Munich Re is not appointed by the AGM but the Supervisory Board.  Item 5f: We recommend to oppose the re-election of Prof. Dr. Ursula Gather to the Supervisory Board due to concerns over aggregate time commitments.

Munich – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

ResearchPool Subscriptions

Get the most out of your insights

Get in touch