Munich Re logs profit of $5.97bn in 2024 [Yahoo! Finance]
MUENCHENER RE GP UNSP/ADR (MURGY)
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Source: Yahoo! Finance
This exceeds the original profit target of €5bn and is the fourth straight year that the company has surpassed profit expectations. Earnings per share for the year increased by 26.3% to €42.78 in 2024, up from €33.88 in the prior year. Insurance revenue from insurance contracts issued for the year stood at €40bn, a 5.9% rise from €37.7bn in 2023. The net result of reinsurance for the year was €4.8bn, a 25.9% increase from €3.8bn in 2023. The board of management has proposed a dividend of €20 per share for 2024, a 33% increase year-on-year. In the fourth quarter of 2024 (Q4 2024), Munich Re registered a net result of €979m, down 2.5% from €1bn in Q4 2023. Earnings per share in Q4 2024 reached €7.54, from €7.51 in Q4 2023. The net result for the reinsurance division stood at €887m, a 4.3% decrease from €926m in Q4 2023. Revenue from insurance contracts issued during the quarter grew 2.8% to €10bn, from €9.8bn in Q4 2023. The company estimates around €1.2bn in claims e
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