Christian Becker-Hufong
Head of Investor Relations
Replay available
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (0KFE) Q3 2025 Earnings Call
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (LSE: 0KFE) Q3 2025 earnings conference call, held 2025-11-14. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Christoph Jureka
Group CFO
Shanti Kang
Analyst at Bank of America
Andrew Baker
Analyst at Goldman Sachs
Andrew Buchanan
CFO of Reinsurance
Michael Hutner
Analyst at Wernberg
Kamran Hossein
Analyst at JPMorgan
Ivan Bockmart
Analyst at Barclays
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Munchener Ruckversicherungs-gesellschaft Ag.
Replay transcript excerpt
WEBVTT 00:00:00.959 -- 00:00:05.987 Thank you, Moritz, and good morning and welcome to everyone to Munich Re's Q3 00:00:05.987 -- 00:00:08.191 earnings call. 00:00:08.191 -- 00:00:12.377 Today I have the pleasure to introduce two speakers to you. 00:00:12.377 -- 00:00:16.083 As always, Christoph Jureka, our CFO, 00:00:16.083 -- 00:00:21.272 for his last quarterly earnings call as the Group CFO before taking over the Group CEO 00:00:21.272 -- 00:00:26.643 role next year. And a warm welcome also to Andrew Buchanan. 00:00:26.643 -- 00:00:30.427 CFO of Reinsurance. Most of you know him anyway. 00:00:30.427 -- 00:00:34.412 He will be the group CFO as of next year. 00:00:34.412 -- 00:00:37.596 Andrew will support us during the Q&A session. 00:00:37.596 -- 00:00:41.858 Now I hand it over to Christoph for his opening remarks. 00:00:41.941 -- 00:00:45.965 Thank you, Christian, and good morning also from my side. 00:00:45.965 -- 00:00:51.331 It's always a pleasure being here, and I'm pretty sure I'll miss all of you, but I'll 00:00:51.331 -- 00:00:53.778 still be around. 00:00:53.778 -- 00:00:57.685 As always, I start with my introductory remarks. 00:00:57.685 -- 00:01:02.573 Munich posted another particularly pleasing net result this quarter. 00:01:02.573 -- 00:01:07.822 As you all have seen, €2 billion in Q3 and the drivers are similar 00:01:07.822 -- 00:01:12.170 to those of the previous quarter. We have a good underlying performance across all lines 00:01:12.170 -- 00:01:17.459 of business and coupled with an exceptionally strong technical result contribution 00:01:17.459 -- 00:01:22.737 in P&C, reinsurance and GSI. We have very high net earnings at Ergo, including 00:01:22.737 -- 00:01:29.485 net positive one-offs, as well as also a very high investment return. 00:01:29.6...