Published by Global Banking & Finance Review®
Posted on February 26, 2026
1 min readLast updated: April 2, 2026
Add as preferred source on GoogleMunich Re reported a 12% drop in Q4 net profit to €945m as a weaker U.S. dollar weighed on results. Full-year profit rose to €6.121bn, beating targets, while January renewals fell 7.8% amid disciplined underwriting.
FRANKFURT, Feb 26 (Reuters) - The German reinsurer Munich Re on Thursday posted a steeper-than-expected 12% fall in net profit in the fourth quarter on the back of negative currency effects due to a weaker U.S. dollar.
Net profit in the quarter of 945 million euros ($1.12 billion) compares with 1.068 billion euros a year ago. Analysts had expected net profit of 1.030 billion euros.
For the full year, Munich Re posted net profit of 6.121 billion euros, up from 5.690 billion euros a year earlier, ahead of a target of 6 billion euros.
The world's largest reinsurer said that renewals of business at the start of the year dropped 7.8% as the company "deliberately opted to not renew or write business that did not meet expectations with respect to return requirements or terms and conditions".
($1 = 0.8464 euros)
(Reporting by Tom Sims and Alexander HuebnerEditing by Ludwig Burger)
Munich Re’s fourth-quarter earnings fell 12% due to negative currency effects from a weaker U.S. dollar, while full-year profit exceeded guidance and renewals declined.
The company cited negative currency effects from a weaker U.S. dollar, which reduced reported earnings despite otherwise disciplined underwriting.
Full-year net profit was €6.121bn, ahead of the €6bn target, reflecting overall strong performance despite Q4 currency headwinds and softer renewals.
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