Finance
Munich Re posts sharp rise in Q3 profit and sticks to full-year target
Published by Global Banking & Finance Review®
Posted on November 11, 2025
1 min readLast updated: January 21, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on November 11, 2025
1 min readLast updated: January 21, 2026
Munich Re's Q3 profit surged to 1.997 billion euros, surpassing expectations, due to low major-loss claims. The company maintains its 2025 profit target.
FRANKFURT (Reuters) -The German reinsurer Munich Re on Tuesday said it posted a better-than-expected rise in net profit in the third quarter on the back of below average major claims, and it stuck to its main profit target for 2025.
Net profit in the quarter was 1.997 billion euros ($2.33 billion), up from 907 million euros a year ago. Analysts had expected net profit of 1.926 billion euros.
The profit figure in part reflects a bounceback from a year earlier, when claims for major losses were particularly high after Hurricane Helene.
The world's largest reinsurer said net profit in its property-casualty reinsurance business "rose significantly ... due primarily to a very low major-loss expenditure".
For 2025, the division's combined ratio - a measure of profitability - is expected at around 74%, an improvement from previous expectations of around 79%.
It kept its full-year profit target at 6 billion euros.
($1 = 0.8575 euros)
(Reporting by Tom Sims and Alexander Huebner, Editing by Miranda Murray)
Reinsurance is a practice where insurance companies purchase insurance to protect themselves from significant losses. It allows insurers to manage risk and maintain financial stability.
Net profit is the amount of money that remains after all expenses, taxes, and costs have been deducted from total revenue. It is a key indicator of a company's profitability.
The combined ratio is a measure of an insurance company's profitability, calculated by adding the loss ratio and the expense ratio. A ratio below 100% indicates profitability.
Major claims refer to significant insurance claims that can have a substantial financial impact on an insurer. These claims often arise from catastrophic events or large losses.
A profit target is a specific financial goal set by a company, indicating the desired profit level to be achieved within a certain timeframe, often used for performance measurement.
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