Munich Re profit up as notes weak dollar; cuts insurance revenue guide

Munich Re AG on Tuesday said it expects to achieve its net profit guidance for the year, but it slightly cut it is guidance for insurance revenue.

The Munich, Germany-based reinsurance provider said net profit surged to EUR2.00 billion in the third quarter of 2025 from EUR907 million a year before.

Munich Re highlighted that it had "an extraordinarily good result" of EUR304 million in its Ergo field of business in the third quarter, more than doubled from EUR141 million a year ago.

Insurance revenue from insurance contracts fell 5.9% to EUR14.58 billion from EUR15.50 billion.

The company noted negative currency translation effects, citing a "low US dollar exchange rate".

Looking ahead, Munich Re said it expects to achieve its guidance of a net profit of EUR6 billion for 2025, which would be up 5.8% from EUR5.67 billion in 2024.

It lowered its insurance revenue forecast for 2025 to EUR61 billion from previously EUR62 billion, but this is still up from EUR60.83 billion in 2024. The change in guidance is mainly due to low major-loss expenditures, the company said.