Munich Re to pay stable dividend of €8.60 per share despite high hurricane losses – Slight improvement in reinsurance prices

Munich Re achieved a result of €392m in 2017 – thus attaining the adjusted “small profit” forecast it had projected for the year in the wake of the high losses resulting from Hurricanes Harvey, Irma and Maria. According to provisional calculations, in the fourth quarter of 2017 it posted a profit of €538m (previous year: €486m). Subject to approval by the Supervisory Board and Annual General Meeting, Munich Re will pay a dividend of €8.60 per share, as in the previous year. CFO Jörg Schneider said: “Our dividend is reliable. Thanks to our capital strength, we were able to well withstand the high losses from natural catastrophes. In 2018, we will be pressing ahead with the digital transformation of Munich Re, and also seizing opportunities for profitable growth in traditional business. Reinsurance prices improved slightly in large sections of the market at the January renewals – a trend likely to strengthen in coming renewal rounds.”