Annual General Meeting approves higher dividend of €24 per share

04/29/2026

Group

2025 financial year: record-breaking net result of €6.1bn
Annual General Meeting approves dividend proposal of €24 per share

In 2025, we added a milestone to Munich Re’s history: on an annual basis, we were financially stronger than ever before. At the same time, we achieved all the targets of our multi-year Ambition 2025 strategy programme. And our new Ambition 2030 strategy defines the path to sustain our success story well into the future.

Christoph Jurecka

Chair of the Board of Management

Shareholder address by Christoph Jurecka, Chair of the Board of Management

In his address to the shareholders, Christoph Jurecka, Chair of Munich Re’s Board of Management, voiced his satisfaction with the Group’s operational performance: “Munich Re is in an excellent financial condition.” The Group generated a record-setting net result of €6.1bn in 2025, while also delivering on its medium-term targets. The CEO explained that Munich Re had achieved or outperformed every single financial and non-financial target defined in its five-year Ambition 2025 strategy programme. He added that the new Ambition 2030 strategy defines the path to sustain the Group’s success story well into the future.

As part of Ambition 2030, Munich Re is seeking to boost revenue, profitability and efficiency. More specifically, Jurecka stated that the Group is aiming for a return on equity of over 18% by 2030; average earnings per share growth of more than 8% per year; and an increasing total payout ratio to surpass 80% per year. In addition, the Solvency II ratio is to consistently remain above 200%.

In this context, the CEO explained that Munich Re would place an even greater focus on becoming a diversified insurance group that offers “reinsurance, primary insurance and specialty insurance at scale.” He added that doing so would make it possible to enhance both the absolute volume and the relative stability of the net result, which is the essence of the new Group strategy.

Against the backdrop of an unstable world, Jurecka underscored the significant role that the insurance industry plays in the global community: “Insurance is society’s immune system. Insurance protects people, mitigates financial losses, and enables progress.” The CEO also said that Munich Re’s financial strength and excellence are essential to the Group fulfilling its role in society.

Annual General Meeting resolutions

For the 2025 financial year, a dividend of €24 per share was approved (2024: €20). The overall dividend payout amounts to approximately €3.0bn.

You can find all the other resolutions from today’s Annual General Meeting here.

Munich Re is one of the world’s leading providers of reinsurance, primary insurance and insurance-related risk solutions. The Group consists of the reinsurance and ERGO business segments, as well as the asset manager MEAG. Munich Re is globally active and operates in all lines of the insurance business. Since it was founded in 1880, Munich Re has been known for its unrivalled risk-related expertise and its sound financial position. Munich Re leverages its strengths to promote its clients’ business interests and technological progress. Moreover, Munich Re develops covers for new risks such as rocket launches, renewable energies, cyber risks and artificial intelligence. In the 2025 financial year, Munich Re generated insurance revenue of €60.4bn and a net result of €6.1bn. The Munich Re Group employed about 44,000 people worldwide as at 31 December 2025.

Disclaimer
This media release contains forward-looking statements that are based on current assumptions and forecasts of the management of Munich Re. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development of our Company, in particular the results, financial situation and performance. Munich Re assumes no liability to update these forward-looking statements or to conform them to future events or developments.