Munich Re Reports Q2 Profit €2.1B Exceeding Forecasts Amid Low Losses

Munich Re reported a strong second-quarter net profit of approximately 2.1 billion euros, significantly surpassing analyst expectations due to robust operational performance and low claims in property-casualty reinsurance. The company's global specialty insurance business experienced fewer major losses than average, although life and health reinsurance faced some setbacks from individual large claims. For the first half of 2025, Munich Re's net profit reached around 3.2 billion euros, maintaining its full-year profit target of 6 billion euros. AM Best highlighted Munich Re's solid capital strength and earnings performance, supported by diversification, favorable market conditions, and a strong capital adequacy ratio despite high dividends and share buybacks. The reinsurer's property/casualty segment was the largest profit contributor, complemented by life and health reinsurance and its primary insurance subsidiary, Ergo. Meanwhile, DB Insurance in South Korea is expected to maintain steady profits and strong capital through disciplined asset-liability management and cautious overseas expansion, despite market pressures and natural catastrophe risks.