Outlook 2014

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Outlook 2015

Munich Re (Group)

Gross premiums written1 Return on investment Net result
(prev. €49–51bn)
(prev. ~3.3%)
  at least €3bn
Focus on bottom-line growth prevails Solid return given ongoing low interest-rate environment – reduced outlook after low Q3 result RoRaC target of 15% after tax
over the cycle to stand
Reinsurance ERGO Munich Health
Combined ratio Combined ratio Combined ratio
(prev. ~96%)

  Germany: ~96%
(prev. ~95%)

International: ~101%
(prev. ~99%)
(prev. ~99%)
Net result Net result Net result
at least €2.5bn   ~€500m   €50–100m  

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

Status: 05.11.2015

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