Munchener Ruckversicherungs-Gesellschaft AG (CHIX:MUV2d)
€ 574.3 (0%) Market Cap: 75.58 Bil Enterprise Value: 76.58 Bil PE Ratio: 16.31 PB Ratio: 2.26 GF Score: 74/100
Back to the Transcripts List

Full Year 2024 Muenchener Rueckversicherungs Gesellschaft in Muenchen AG Earnings Call Transcript

Feb 26, 2025 / 10:00AM GMT
Release Date Price: €510.7

Key Points

Positve
  • Munchener Ruckversicherungs-Gesellschaft AG (MURGF) exceeded its profit target with a net income of EUR5.7 billion for 2024.
  • The company announced a substantial 33% increase in dividend per share, proposing a dividend of EUR20.
  • Munchener Ruckversicherungs-Gesellschaft AG (MURGF) plans to continue share buybacks on a larger scale of EUR2 billion.
  • The company's return on equity is noticeably ahead of its target range of 14% to 16%, creating substantial value for shareholders.
  • Global specialty insurance, a fast-growing segment, is expected to continue its growth trajectory, contributing significantly to the company's portfolio.
Negative
  • The January renewals in P&C reinsurance resulted in a slight price decline of 0.6%, indicating some pressure on pricing.
  • Volumes in P&C reinsurance declined by 2.4% due to deliberate reduction of business that did not meet risk-return requirements.
  • The combined ratio for GSI came in higher than last year due to major losses and reserve potency, impacting profitability.
  • The company faces challenges in managing excess capital, with a solvency II ratio well above the optimal range.
  • There is cautiousness regarding US liability due to social inflation trends, leading to substantial reduction in exposure to certain casualty lines.
Operator

Ladies and gentlemen, welcome to the Analyst Investors call on annual results and January renewals conference call and live webcast. I'm Moritz, the Chorus call operator. (Operator Instructions) And the conference is being recorded.

The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Christian Becker-Hussong. Please go ahead, sir.

Christian Becker;Hussong;Joachim Wenning
Muenchener Rueckversicherungs Gesellschaft in Muenchen AG - Head of Investor & Rating Agency Relations;Muenchener Rueckversicherungs Gesellschaft in

Yeah, thank you, Moritz. Ladies and gentlemen, good morning. Welcome to our call on the full year 2024 earnings and '25 January renewals. I think I don't have to introduce today's speakers Joachim Wenning, our CEO; and Christoph Jurecka, CFO of Muenchener.

Same procedure as every year Joachim and Christoph will kick it off with their remarks. Afterwards there's plenty of opportunity for Q&A. So Joachim, Please.

Already have an account? Log in
Get the full story
Start 7-Day Free Trial
Access to All Earning Calls and Stock Analysis
30-Year Financial on one screen
All-in-one Stock Screener with unlimited filters
Customizable Stock Dashboard
Real Time Insider Trading Transactions
8,000+ Institutional investors’ 13F holdings
Powerful Excel Add-in and Google sheets Add-on
All data downloadable
Quick customer support
And much more...
30-Day 100% money back guarantee
You are not charged until the trial ends. Subscription fee may be tax deductible.
Excellent
4.6 out of 5 Trustpilot
Research Tools
All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Discussion Board
Product
Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App 中文
Education
Financial Glossary Tutorials FAQ Schedule Free Session Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation
Company
About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program
Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey
Follow Us
download GuruFocus on Apple store download GuruFocus on Google Play
Disclaimers
GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.
© 2004-2025 GuruFocus.com, LLC. All Rights Reserved.