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Munich Re sees 2023 net profit of around 4 billion euros

Munich Re sees 2023 net profit of around 4 billion euros
Munich Re sees 2023 net profit of around 4 billion euros Copyright Thomson Reuters 2022
Copyright Thomson Reuters 2022
By Reuters
Published on Updated
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FRANKFURT - The German reinsurer Munich Re said on Wednesday that it expects net profit of around 4 billion euros ($4.26 billion) in 2023.

Munich Re said that the forecast was based on new accounting standards, known as IFRS 17.

As a result, there is no market consensus or comparable figures published, Munich Re said.

The company also said its insurance revenues, previously termed "premiums", were expected to be around 58 billion euros next year.

It said its forecasts and targets "face increased uncertainty owing to fragile macroeconomic developments, volatile capital markets and the unclear future of the pandemic".

($1 = 0.9380 euros)

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