Outlook 2014

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Outlook 2015

Munich Re (Group)

Gross premiums written1 Return on investment Net result
€47–49bn   at least 3%
Focus on bottom-line growth prevails 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
~98%   Germany: ~93%
International: ~97%
Net result Net result Net result
at least €2bn   ~€500m   €50–100m  

1 By segment: Reinsurance €26–27bn, ERGO €16–16.5bn, Munich Health slightly above €5bn.

Status: 11.03.2015

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