Munich Re Profit Jumps 57%, But Shares Slide As Reinsurer Cuts New Business
Munich Re’s first-quarter net profit jumped 57% to €1.714 billion, driven by a sharp drop in large-loss claims. The reinsurer cut April renewal business by 18.5% as risk-adjusted prices fell 3.1%. Shares fell as much as 5% in Frankfurt, hitting their lowest level since November 2024, as investors focused on weaker revenue and pricing pressure. Insurance revenue dropped to €15.018 billion from €15.811 billion.