Munich Re trims 2025 insurance revenue forecast, cites currency developments

FRANKFURT (Reuters) -The German reinsurer Munich Re on Friday trimmed its 2025 outlook for insurance revenue citing business and foreign exchange rate developments, as well as reporting a dip in its July renewals, but the company stuck to its full-year profit target.

Shares were indicated to open 3% lower.

Insurance revenue in its reinsurance division is now anticipated at 40 billion euros ($46.59 billion), down from a previous forecast of 42 billion euros, the company said.

Overall group insurance revenue is now seen at 62 billion euros, down from earlier expectations of 64 billion euros.

The company's July renewals saw a price drop of 2.5% and a volume decrease of 3.2%, Munich Re reported.

($1 = 0.8586 euros)

(Reporting by Tom Sims and Alexander Huebner, Editing by Friederike Heine)