Munich Re has outlined its multi-year strategy till 2030, aiming for stronger, more consistent profit growth and bigger rewards for shareholders.
By 2030, the company is aiming for a return on equity above 18%, annual earnings-per-share growth of more than 8%, and a payout ratio of over 80% each year, supported by a robust solvency position.
Looking ahead to 2026, Munich Re is guiding to IFRS net profit of €6.3 billion, essentially in line with market expectations. It also expects insurance revenue to climb to €64 billion, slightly ahead of consensus, and sees investment returns improving to above 3.5%.
Munich Re is forecasting €5.4 billion of net profit from the segment next year, helped by a still-favorable market. Profitability is expected to stay strong, with combined ratios of 80% in property-casualty and 90% in Global Specialty Insurance, while life and health reinsurance is projected to deliver a €1.9 billion technical result.
ERGO, its primary insurance arm, is set to add about €0.9 billion to earnings in 2026, with both its German and international units targeting combined ratios of 89%.
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