Munich Re Evaluates P&C Reinsurance Revenue Amid Softer Market Conditions
Munich Re’s Revenue Outlook and Market Challenges
Reassessment of Property and Casualty Reinsurance Targets
BERLIN, July 21 (Reuters) - Munich Re is reassessing its revenue outlook for its property and casualty reinsurance business as softer market conditions weigh on growth prospects, Germany's Boersen-Zeitung newspaper reported on Tuesday, citing Chief Financial Officer Andrew Buchanan.
The German reinsurer had said in May that achieving its 2026 revenue target of €40 billion ($46.7 billion) for the division had become more challenging.
Factors Impacting Revenue Projections
Buchanan told the paper in an interview that the factors behind that assessment had not disappeared.
Upcoming Financial Review and Market Guidance
"As part of our work on the half-year financial statements, we will take a very close look at the business in the pipeline for the third and fourth quarters," he said, according to the paper.
"That will determine the guidance we give to the market."
Performance of Life and Health Reinsurance Segment
By contrast, Munich Re's life and health reinsurance business was broadly on track in terms of revenue, the newspaper reported.
Anticipated Financial Results
Munich Re is due to report first-half results in August.
(Writing by Miranda Murray; Editing by Christian Schmollinger)
