Munich Re can lay off big M&A deals, but would gladly tack-on to existing strengths

Global reinsurer  Munich Re is unlikely to proceed to major mergers and acquisitions (M&A), but would gladly pick up assets that solidify the existing profile, a top official indicated Wednesday (February 23).

"I don’t think there will be a major acquisition in the near future," CEO Joachim Wenning (pictured) told the Q4 earnings call for the media.

"But we are open in those markets and those business lines where we are strong already and can strengthen our presence there."

With M&A off the radar screen and with capital on hand for growth, Munich Re returned to shareholder remuneration after a hiatus, announcing a €1 billion share buyback just ahead of the Q4 earnings release. Together with the proposed €11 dividend per share, Munich Re’s total remuneration could total €2.5 billion.

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