MÜNCHENER RÜCKVERSICHERUNGS-GESELLSCHAFT

Business Segments Münchener Rückversicherungs-Gesellschaft OTC Markets

Stocks

MURGF

DE0008430026

Reinsurance

Real-time OTC Markets Other stock markets 15:55:36 2026-04-06 EDT			5-day change	1st Jan Change
640.10 ^USD	+4.08%		+5.95%	-4.36%

07:05am	AlphaValue/Baader Europe Adjusts EPS Forecasts for Munich Re on Expected 'Weaker' P&C Normalized Combined Ratio	MT
04:46am	Munich RE: Munich Re: Strong 2Q26 results mask deteriorating underlying trends

Sales 2025 by Business Segment

Sales 2025 by Geography

Historical Breakdown of Revenue by Business Segments

Net Income: Breakdown by Business Segment

Breakdown by Business Segment (EUR)

Fiscal Period: December	2021	2022	2023	2024	2025
Casualty Reinsurance Carriers
Reinsurance - Property-casualty (Excluding Global Specialty Insurance)	28.73B	33.46B	26.8B	27.68B	18.88B
Total Assets	92B	96.03B	84.74B	97.06B	76.13B
Interest Expense	-135M	-127M	-139M	-193M	-170M
Income Tax Expense	326M	64M	465M	1.34B	1.45B
CAPEX	-288M	-	-	-	-
D&A	95M	158M	159M	-	-
Operating Income	2.35B	1.7B	3.05B	4.73B	4.93B
Net Income	2B	1.86B	2.45B	3.2B	3.31B
Property
ERGO - Germany	3.97B	4.1B	4.66B	4.76B	15.65B
Total Assets	11B	11.18B	11.53B	11.85B	125B
Interest Expense	-4M	-7M	-49M	-67M	25M
Income Tax Expense	109M	87M	96M	102M	401M
CAPEX	-148M	-	-	-	-
D&A	73M	88M	91M	-	-
Operating Income	354M	306M	397M	428M	751M
Net Income	234M	185M	252M	260M	376M
Life Reinsurance Carriers
Reinsurance Life and Health	12.4B	13.3B	11.52B	12.66B	12.71B
Total Assets	56.57B	53.44B	41.25B	39.52B	34.72B
Interest Expense	-36M	-26M	3M	17M	-27M
Income Tax Expense	16M	171M	261M	563M	447M
CAPEX	-359M	-	-	-	-
D&A	58M	61M	31M	-	-
Operating Income	344M	869M	1.69B	2.23B	1.81B
Net Income	325M	737M	1.43B	1.68B	1.33B
Life Insurance
Global Specialty Insurance	13.04B	11.8B	9.86B	9.9B	8.16B
Total Assets	128B	117B	115B	116B	19.69B
Interest Expense	-9M	16M	53M	83M	-26M
Income Tax Expense	59M	214M	67M	70M	149M
CAPEX	-348M	-	-	-	-
D&A	50M	134M	16M	-	-
Operating Income	202M	471M	197M	217M	737M
Net Income	164M	485M	183M	230M	562M
ERGO - International	5.34B	4.71B	5.56B	5.91B	6.72B
Total Assets	24.65B	21.06B	21.01B	21.58B	24.38B
Interest Expense	-20M	-35M	-36M	-48M	-51M
Income Tax Expense	43M	43M	48M	20M	61M
CAPEX	-82M	-	-	-	-
D&A	51M	65M	68M	-	-
Operating Income	266M	231M	370M	369M	653M
Net Income	207M	155M	286M	301M	541M
Health and Medical Reinsurance Carriers
Munich Health	-	-	-	-	-
Interest Expense	-	-	-	-	-
Income Tax Expense	-	-	-	-	-
Total Assets	-	-	-	-	-
CAPEX	-	-	-	-	-
D&A	-	-	-	-	-
Operating Income	-	-	-	-	-
Net Income	-	-	-	-	-

Geographical Revenue Distribution History

Geographical breakdown of sales (EUR)

Fiscal Period: December	2021	2022	2023	2024	2025
Germany	-	-	-	15.89B	16.2B
Total Assets	7.37B	6.83B	8.64B	7.86B	7.56B
Total Assets	-	-	52M	-	-
United States	-	-	-	16.93B	15.77B
Total Assets	4.38B	4.66B	4.88B	6.24B	7.5B
United Kingdom	-	-	-	8.37B	8.46B
Total Assets	545M	544M	557M	513M	416M
Europe - Others	-	-	-	3.94B	4.41B
Poland	-	-	-	2.33B	2.52B
Total Assets	237M	236M	259M	252M	252M
Total Assets	-	69M	109M	140M	159M
Canada	-	-	-	2B	2.09B
Total Assets	307M	286M	303M	288M	260M
Total Assets	90M	123M	139M	150M	176M
Australia	-	-	-	1.79B	1.81B
Total Assets	-	150M	207M	247M	275M
Total Assets	-	53M	67M	146M	164M
Total Assets	-	-	83M	71M	67M
Spain	-	-	-	1.57B	1.52B
Total Assets	280M	250M	271M	264M	212M
Total Assets	350M	322M	316M	298M	701M
Total Assets	93M	94M	95M	130M	129M
Asia and Australasia - Others	-	-	-	1.49B	1.48B
Latin America	-	-	-	1.44B	1.47B
Total Assets	155M	136M	-	-	-
Italy	-	-	-	-	1.12B
Total Assets	153M	138M	145M	129M	104M
Total Assets	110M	438M	464M	557M	661M
Total Assets	222M	142M	117M	222M	221M
China	-	-	-	1.01B	962M
India	-	-	-	804M	826M
Japan	-	-	-	577M	503M
United Arab Emirates	-	-	-	544M	435M
South Africa	-	-	-	538M	420M
Total Assets	-	-	-	190M	179M
Africa, Middle East - Others	-	-	-	581M	417M
Belgium	-	-	-	1.03B	-
Total Assets	105M	173M	290M	261M	255M
Total Assets	52M	53M	56M	-	-
Total Assets	63M	79M	86M	277M	379M
Total Assets	161M	140M	235M	242M	232M
Total Assets	420M	446M	580M	580M	525M