Munich Re (0KFE.L) on Thursday reported a higher net result for the full year, exceeding its outlook.
Net result attributable to Munich Reinsurance rose to €6.118 billion or €47.15 per share from €5.704 billion or €42.93 per share a year ago. The company had projected net result of €6 billion.
Operating result rose 11% to €8.876 billion from €7.998 billion in the prior-year period.
Total technical result increased 12.6% to €9.8 billion from €8.701 billion, driven by a 13.4% rise in insurance service result to €9.319 billion.
The insurance service result from insurance contracts issued grew 9.7% to €10.309 billion, while the loss from reinsurance contracts held narrowed to €990 million from €1.181 billion.
Net financial result edged down 6.3% to €1.353 billion from €1.443 billion.
Insurance revenue from insurance contracts issued edged down 0.7% to €60.412 billion from €60.830 billion in the prior-year period.
The Board proposed a dividend of €24 per share for fiscal 2025, a year-on-year increase of 20%.
On February 25, Munich Re announced a new share buy-back programme of up to €2.25 billion, to be completed by the 2027 Annual General Meeting.
For fiscal 2026, Munich Re expects a net result of €6.3 billion. Group insurance revenue is projected to reach €64 billion in 2026.
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