Munich Re posts stable results in 2015
Munich Re posted a solid set of results for 2015 as its profits and gross written premiums (GWP) remained stable.
Its profits hit €3.1 billion and its GWP jumped to €50.4 billion in 2015, compared with €3.2 billion and €48.8 billion in 2014 respectively.
The company’s reinsurance segment posted €28.2 billion of GWP in 2015, an increase from €26.8 billion in 2014, while its combined ratio improved to 89.7 percent in 2015, compared with 92.7 percent in the prior year.
Munich Re also reported a hike in its operating result to €4.8 billion in 2015, compared with €4 billion in the prior year.
Jörg Schneider, chief financial officer, said: "Due to the fact that the market environment is so challenging, the 2015 result is pleasing. Even though we benefited from random effects in the form of a low impact from major losses, the good result is mainly due to our operational profitability and rock-solid balance sheet."
He added: “We can be satisfied with the figures for the January renewals. Despite a continuing difficult market environment, Munich Re was able to seize attractive business opportunities. We are a preferred partner for clients that place value on sophisticated insurance solutions."
