Munich Re Raises 2026 Profit Guidance to €6.6 Billion
Munich Re reported third-quarter net profit of €1.74 billion, down from €2 billion a year earlier, citing higher major losses and weaker investment results. It raised its full-year profit target from €6.1 billion and set combined-ratio targets below 80% for property-casualty reinsurance and 90% for Global Specialty Insurance.
Munich Re reported a third-quarter 2026 net profit of 1.74 billion euros, down from 2 billion euros in the same period last year, citing higher major loss expenditures and weaker investment results. Despite the quarterly decline, the company raised its full-year profit guidance to 6.6 billion euros, up from its previous target of 6.1 billion euros. The company also improved its outlook for specific segments, now targeting a combined ratio of under 80% for property-casualty reinsurance and under 90% for its Global Specialty Insurance (GSI) segment.
The largest single loss during the quarter was the "El Choco" earthquake in Colombia, which cost the company 0.3 billion euros.