Munich Re : Q1 2023 with a strong start to the year, helped by a high RoI
>Group net profit of € 1.3bn ahead of consensus - Munich Re reported an IFRS 17 based group net profit of € 1,271m for Q1 2023, in line with the pre-announced result and ahead of € 1,012m consensus estimate. Strong technical results have been additionally helped by a high RoI of 3.0% vs 2.5% consensus. RoE stood at a healthy 17.3% (based on average adj. equity) for the quarter and the SII ratio came to 254%, slightly below the 258% estimate. Munich Re reiterated its ...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.
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