Munich Re profits plummet 55% in 2020; CEO insists 'all pieces in place' for 2021

25-02-2021

Munich Re profits plummet 55% in 2020; CEO insists 'all pieces in place' for 2021

Munich Re CEO Joachim Wenning; Source: Munich Re

Munich Re’s reinsurance business dragged the company’s 2020 results due to high pandemic-related losses and natural catastrophes, but the rate improvements allowed the company to grow its business in the January renewals. The German reinsurer anticipates the market environment to remain positive and offer attractive growth opportunities in 2021.


Munich Re, Reinsurance, 2020 results, Joachim Wenning, Europe, Global

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