MUNICH Re to pay out over EUR 1.3 billion to shareholders and expects EUR 2.3-2.8 billion profit for 2016

28 April 2016 — Daniela GHETU
MUNICH Re will pay a significantly increased dividend of EUR 8.25 per share for the financial year 2015 (previous year: EUR 7.75), making a total payout of over EUR 1.3 billion to its shareholders. "Last year, MUNICH Re achieved a profit of EUR 3.1 billion despite the difficult environment. This is the fourth year in succession that we have generated a profit of over EUR 3 billion. That is a good result," stated CEO Nikolaus von BOMHARD.

With a view to the profit target for 2016, von BOMHARD - who, as already announced, will leave the Board of Management and relinquish his appointment as CEO on 26 April 2017 - said: "For the current year, we projected a profit in the range of EUR 2.3-2.8 billion." This target figure does not take into account major expenditure for implementing ERGO's programme for the future, which will be communicated in the second quarter. In a first, very early assessment of the first three months of the current year, von BOMHARD said: "From January to March, the incidence of major losses was once again low, but initial estimates now show that the result for the first quarter will remain well below our expectations and the result for the first quarter of 2015. Capital markets were highly volatile in the first quarter - share prices in particular fell, and we will be posting write-downs."

With regard to MUNICH Re's business perspectives, he said: "We are persisting in our endeavours to open up new markets and develop new products. Innovation has always been a key component of our corporate culture. Those who fail to innovate will end up a mere footnote in history. We do not fear these changes. On the contrary: I see digitalisation - and the whole issue of innovation - as a tremendous opportunity. The potential of profitable business opportunities lying before us is huge. And it is a pleasure to see with what verve and creativity this potential is currently being unlocked in our Group."

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