Munich Re : We upgrade to Outperform on continued strong earnings momentum
>We increase estimates based on strong earnings momentum in reinsurance - We have revisited our estimates for Munich Re following FY 2023 results which were reported in line with estimates with regards to € 4.6bn net profit. Based on continued strong earnings momentum in reinsurance and primary insurance activities, we have increased our estimates for the group by 7.7% for 2024e and by 10.9% for 2025e. Our EPS CAGR estimate for the period 2023-2026e stands at a health...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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