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 22)
50.3 51.2 52.3
Maximum 53.2 55.3 57.6
Minimum 48.0 47.8 48.3
Median 50.4 51.2 51.9
Combined ratio reinsurance property-casualty in %
(Number of estimates 26)
93.9 94.7 95.6
Maximum 95.7 98.0 99.8
Minimum 91.0 91.8 92.0
Median 94.0 94.5 95.4
Combined ratio primary insurance property-casualty in %
(Number of estimates 18)
95.6 95.3 95.4
Maximum 98.0 97.0 97.6
Minimum 94.3 93.4 93.1
Median 95.6 95.3 95.4
Operating result in €m
(Number of estimates 22)
4539 4456 4372
Maximum 4819 4960 5475
Minimum 3707 3665 3221
Median 4597 4502 4388
Consolidated result in €m
(Number of estimates 30)
3059 2929 2888
Maximum 3249 3332 3444
Minimum 2782 2519 2557
Median 3070 2925 2863
Earnings per share in €
(Number of estimates 32)
17.48 17.28 17.26
Maximum 18.62 19.80 21.00
Minimum 16.00 14.58 12.86
Median 17.43 17.21 17.37
Dividend per share in €
(Number of estimates 31)
7.47 7.72 7.88
Maximum 8.00 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 26)
27.4 28.3 28.3
Maximum 30.8 32.6 32.9
Minimum 25.0 25.0 24.7
Median 27.5 28.6 28.2
   
Price target in €
(Number of estimates 35)
160.5
Maximum 192.0
Minimum 139.0
Median 159.5
Share price at 18.09.2014, 17:35:13 (XETRA) in € 153.85
Current upside/downside vs. average target price in % 4.32

Status: 12.09.2014


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