8 slides from Munchener Ruckversicherungs-gesellschaft's earnings presentation, Feb 6, 2018
Slide 1: Preliminary key figures 2017 and January renewals
Image: Getty Images/fStop Preliminary key figures 2017 and January renewals 6 February 2018 Jörg Schneider
Slide 2: Munich Re (Group) – Financial highlights 2017
Munich Re (Group) – Financial highlights 2017 Dividend stable at €8.60 per share1, despite nat cat losses – Price and volume increase in January renewals Munich Re (Group) – 2017 (Q4 2017) Net result Operating result Investment result €392m (€538m) €1,241m (€864m) RoI: 3.2% (3.4%) Reinsurance result
Slide 3: Investment result
Munich Re (Group) Investment result €m Q4 2017 2017 2016 Highlights Regular income 1,557 6,438 6,663 Only slight attrition of running yield in 2017 Write-ups/write-downs –82 –241 –400 3-month reinvestment yield stable at ~1.9% in Q4 Disposal gains at prior-year level – higher at ERGO, lower Di
Slide 4: ERGO – Key financials
ERGO ERGO – Key financials Gross premiums written €m Net result €m Major result drivers 17,388 17,546 2017: Combined ratios and net result better than guidance; enhanced 273 profitability; lower ESP1 investments Life Germany: Reduced burden in technical result from interest-rate 41 environment
Slide 5: Reinsurance – Key financials
Reinsurance Reinsurance – Key financials Gross premiums written €m Net result €m P-C: Combined ratio1 % P-C 2,540 31,463 31,569 Life 114.1 95.7 2,025 120 515 596 –476 2016 2017 2016 2017 2016 2017 Life/Health Property-casualty % Technical result incl. fee income of €428m almost meets Normalised or
Slide 6: January renewals – Roughly half of total P-C book up for renewal, regional focus on Europe
Reinsurance – January renewals January renewals – Roughly half of total P-C book up for renewal, regional focus on Europe Total property-casualty book1 % Regional allocation of January renewals % Remaining business January renewals Worldwide Europe 29 47 24 33 Latin America TOTAL 3 €8bn Asia/Pacific
Slide 7: Substantial rate increases in loss-affected business – attractive business opportunities lead to top-line growth
Reinsurance – January renewals Substantial rate increases in loss-affected business – attractive business opportunities lead to top-line growth January renewals 2018 % 100 –14.3 85.7 5.4 27.9 119.0 Positive price change for the €m 8,327 –1,190 7,138 446 2,327 9,909 first time in four years Nat c
Slide 8: Disclaimer
Disclaimer This presentation 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 a