Outlook 2014

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Outlook 2015

Munich Re (Group)

Gross premiums written1 Return on investment Net result
(prev. €47–49bn)
  At least 3%
Higher expectation due to FX Solid return given ongoing
low-interest-rate environment
RoRaC target of 15% after tax
over the cycle to stand
Reinsurance ERGO Munich Health
Combined ratio Combined ratio Combined ratio
(prev. 98%)
  Germany: ~93%
International: ~97%
Net result Net result Net result
at least €2bn   ~€500m   €50–100m  

1 By segment: Reinsurance ~€28bn, ERGO €16–16.5bn, Munich Health ~€5.5bn.

Status: 07.05.2015

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