Munich Reinsurance Company (DE:MUV2)
XETRA:MUV2
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Earnings Data
Report Date
Aug 07, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
12.26Last Year’s EPS
15.94Same Quarter Last Year
Moderate Buy
Based on 10 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Neutral
The call highlighted resilient and strong underlying underwriting and technical performance across business segments (EUR 1.7bn net result, solid combined ratios, Life & Health strength, improved reinvestment yield and robust capital position). However, material headwinds from weaker investment fair‑value movements, lower running income in Q1, competitive pricing pressure (notably in nat‑cat exposed reinsurance), reduced renewal volumes, and a raised outlier expectation temper the upside. Management kept the 2026 net result outlook unchanged but acknowledged the EUR 40bn reinsurance revenue target is now more challenging and emphasized reliance on deal pipeline and catch‑up effects in investments and CPI‑linked income.Company Guidance
Strong Quarterly Net Result
Net result of EUR 1.7 billion in Q1 2026, described as a pleasing start to the year and evidence of resilience across the group despite macro and geopolitical uncertainty.
Improved Reinvestment Yield and Diversified Investment Gains
Reinvestment yield improved to 4.2% in Q1, with positive revaluations in alternative investments and commodities demonstrating portfolio diversification benefits that partly offset negative fair value changes in fixed income and equities.
Life & Health Reinsurance Technical Strength
Life & Health Reinsurance delivered a total technical result of EUR 500 million (slightly above pro rata annual ambition); the Contractual Service Margin (CSM) increased due to solid business growth and favorable currency effects.
P&C Reinsurance Strong Underwriting Performance
P&C reinsurance posted a Q1 combined ratio of 66.8% benefiting from very low major losses; normalized combined ratio was 80.3%, aligned with full‑year guidance (~80%). Reserve releases totaled the expected 6 percentage points.
Global Specialty Insurance Outperformance
Global Specialty Insurance produced a pleasing Q1 result with a combined ratio of 83.7%, better than full‑year guidance, aided by benign loss experience and lower expenses.
ERGO: Promising Start and Solid Segment Results
ERGO delivered a net result of EUR 235 million in Q1 on the path to the 2026 target of EUR 0.9 billion. ERGO Germany reported a segment result of EUR 157 million; ERGO Germany P&C combined ratio was an excellent 86.7% (better than guidance).
Capital Strength Maintained
Solvency II ratio remained strong at 292% despite the full deduction of the new share buyback; the group reiterated capital return discipline (80%+ ambition) after returning 87% last year.
Outlook Intact for 2026 Net Result
2026 outlook unchanged with expected net result of EUR 6.3 billion; management believes the EUR 40 billion reinsurance revenue target remains within reach based on a healthy deal pipeline and anticipated deal closings later in the year.
DE:MUV2 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
DE:MUV2 Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 12, 2026 | €499.30 | €468.90 | -6.09% |
Feb 26, 2026 | €527.41 | €523.60 | -0.72% |
Nov 11, 2025 | €519.59 | €520.54 | +0.18% |
Aug 08, 2025 | €580.10 | €538.29 | -7.21% |
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 Munich Reinsurance Company (DE:MUV2) report earnings?
Munich Reinsurance Company (DE:MUV2) is schdueled to report earning on Aug 07, 2026, Before Open (Confirmed).
What is Munich Reinsurance Company (DE:MUV2) earnings time?
Munich Reinsurance Company (DE:MUV2) 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 the P/E ratio of Munich Reinsurance Company stock?
The P/E ratio of Munich Reinsurance is N/A.
What is DE:MUV2 EPS forecast?
DE:MUV2 EPS forecast for the fiscal quarter 2026 (Q2) is 12.26.