Consensus

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Consensus

Munich Re and its economic performance are monitored by many banks. The consensus is based on the prognoses of about 40 financial analysts and therefore includes all estimates available to us.

We wish to point out that the analysts' assessments are subjective and do not reflect Munich Re's opinion. All prognoses and estimates regarding individual financial indicators and general performance represent the views of the analysts alone.

By merely making available the consensus figures and recommendations, Munich Re does not imply its endorsement of or concurrence with them. Munich Re does not assume any liability for the estimates' accuracy and does not undertake to update or revise them. The information given thus does not constitute an invitation to purchase or sell securities.

Estimates AY 2014 AY 2015 AY 2016
Gross premiums written in €bn
(Number of estimates 16)
50.2 50.9 52.3
Maximum 53.2 55.3 57.6
Minimum 48.0 47.8 48.0
Median 49.7 50.6 51.6
Combined ratio reinsurance property-casualty in %
(Number of estimates 19)
93.9 95.1 95.9
Maximum 95.7 98.0 99.8
Minimum 91.0 91.8 92.0
Median 94.0 95.0 96.0
Combined ratio primary insurance property-casualty in %
(Number of estimates 16)
95.7 95.2 95.4
Maximum 98.0 97.0 97.6
Minimum 94.5 93.5 94.0
Median 95.6 95.2 95.3
Operating result in €m
(Number of estimates 19)
4585 4376 4322
Maximum 4846 4960 5475
Minimum 3707 3665 3221
Median 4645 4398 4356
Consolidated result in €m
(Number of estimates 24)
3075 2881 2818
Maximum 3286 3332 3444
Minimum 2782 2399 2044
Median 3090 2852 2800
Earnings per share in €
(Number of estimates 24)
17.66 17.10 17.20
Maximum 18.80 19.80 21.00
Minimum 16.00 14.58 12.86
Median 17.76 17.04 17.12
Dividend per share in €
(Number of estimates 23)
7.48 7.73 7.88
Maximum 8.06 8.50 8.40
Minimum 7.25 7.25 7.25
Median 7.50 7.75 8.00
Shareholders‘ Equity in €bn
(Number of estimates 20)
27.5 28.4 28.7
Maximum 29.7 31.6 32.9
Minimum 24.8 25.7 25.7
Median 27.7 28.6 28.3
   
Price target in €
(Number of estimates 35)
159.5
Maximum 185.0
Minimum 139.0
Median 158.5
Share price at 24.10.2014, 17:35:18 (XETRA) in € 150.25
Current upside/downside vs. average target price in % 6.16

Status: 24.10.2014


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