Munich re Q4 Decreased profit; Dividend plans, redemption of 2 euros; Sees bigger results for FY25

Munich (DPA -AFX) – the German reinsurance major Munich Re (0kfe.l) reported a weak profit in the fourth quarter, despite the higher insurance income.

For the fourth quarter, the net result assigned to its own capital holders was 991 million euros, down 1.9% compared to 1.011 billion euros from last year. However, earnings per share increased by 0.4 percent to 7.54 euros compared to 7.51 euros last year.

The operational result, however, increased by 180 % to 1.64 billion euros compared to 585 million euros last year.

The insurance revenues from the insurance contracts issued were 15.32 billion euros, up 2.3 percent compared to 14.98 billion euros a year ago.

In addition, the Board of Directors proposes to pay the shareholders a dividend of 20 euros per share for the financial year 2024, subject to the approval by the Annual General Assembly.

The company also announced a new purchase of shares, with a considerable volume of more than 2 billion euros, which will be completed by 2026 annual general meetings.

Seeking in the future, for fiscal year 2025, the company projects a net result of 6 billion euros and insurance revenues from insurance contracts issued by 64 billion euros.

In fiscal year 2024, the net result awarded to the owners of equity was 5.69 billion euros, and the insurance revenues from the insurance contracts issued were 60.83 billion euros.

For more winnings, income calendar and actions winnings, visit Rttnews.com.