Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY)
OTHER OTC:MURGY
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Earnings Data
Report Date
Aug 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.29Last Year’s EPS
0.37Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call conveys mixed but ultimately balanced messaging: strong underlying underwriting and operating results (solid combined ratios, EUR 1.7bn net result, improved reinvestment yield, high Solvency II ratio and disciplined capital/underwriting actions) were materially offset by investment mark‑to‑market headwinds, softer top‑line momentum in reinsurance (Q1 accounting adjustments, FX effects and competitive pricing) and increased large‑loss/outlier expectations. Management maintained the 2026 net result outlook (EUR 6.3bn) but acknowledged that the EUR 40bn reinsurance revenue target is now more challenging and will depend on large deals and catch‑up activity later in the year.Company Guidance
Strong Q1 Net Result
Reported net result of EUR 1.7 billion in Q1 2026, described as a strong start and evidence of resilience amid geopolitical and macroeconomic uncertainty.
Solid Underlying Operating Performance Across Segments
Benign major-loss experience supported strong technical results across reinsurance, Global Specialty Insurance and ERGO; P&C reinsurance, Global Specialty and ERGO Germany all reported combined ratios materially below full‑year guidance levels.
P&C Reinsurance Q1 Profitability
P&C reinsurance Q1 combined ratio of 66.8% and normalized combined ratio of 80.3%, aligned with full‑year guidance (~80%) supported by low major losses and expected reserve releases.
Life & Health Reinsurance and CSM Growth
Life & Health Reinsurance delivered a total technical result of EUR 500 million (slightly above pro rata annual ambition); Contractual Service Margin (CSM) stock increased due to solid business growth and positive currency effects.
ERGO Strong Start
ERGO delivered a net result of EUR 235 million in Q1; ERGO Germany segment result EUR 157 million; ERGO Germany P&C combined ratio 86.7% (better than full‑year guidance); ERGO International net result EUR 78 million and ERGO NEXT (US) progressing according to plan.
Improved Reinvestment Yield
Reinvestment yield improved to 4.2% after using higher bond yields to reinvest, providing support for future running yield and income.
Diversification Benefits in Investment Portfolio
Despite negative fair value changes in fixed income and equities, alternative investments and commodities posted positive revaluations, demonstrating diversification benefits in volatile capital markets.
Strong Capital Position
Group Solvency II ratio of 292% after partial deduction for the new share buyback program; group reiterates capital discipline and maintained outlook for EUR 6.3 billion net result in 2026.
Reserve Discipline and Portfolio Management
Active portfolio discipline at renewals: renewed treaty volume reduced by 18.5% in April to preserve portfolio quality; underwriting discipline maintained (limited participation in business not meeting return requirements).
Reserve Releases and Discounting Benefit
Reserve releases contributed c. 6 percentage points to the combined ratio; discounting effect of approx. 9.5% (driven by higher interest rates) exceeded guidance (~9%), supporting current technical profitability.
Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY) Earnings, Revenues Date & History
MURGY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MURGY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | $11.76 | $11.01 | -6.44% |
Feb 26, 2026 | $12.68 | $12.58 | -0.76% |
Nov 11, 2025 | $12.22 | $12.29 | +0.61% |
Aug 08, 2025 | $13.73 | $12.78 | -6.93% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY) report earnings?
Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY) is schdueled to report earning on Aug 07, 2026, Before Open (Confirmed).
What is Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY) earnings time?
Munchener Ruckversicherungs-Gesellschaft Aktiengesellschaft Unsponsored ADR (MURGY) earnings time is at Aug 07, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MURGY EPS forecast?
MURGY EPS forecast for the fiscal quarter 2026 (Q2) is 0.29.