Munich Re published the following summary of its
consequences for the economic 12 months 2013:
— running result of €4.4billion from (€5.three billion)
[$6.07 billion from $7.32 billion].
— regardless of low interest prices and the unfavorable
outcomes of exchange rates, shareholders’ equity reduced in 2013 by only round
€1.2 billion [$1.657 billion] to €26.2 billion [$36.188 billion] from €27.4
billion [$37.8 billion] – specifically way to the high income for the yr.
— go back on danger-adjusted capital (RORAC) become 12.2
percentage (thirteen.2 percentage), whilst the return on IFRS equity (RoE)
amounted to 12.5 percentage (12.5 percentage).
— Gross rates written by means of the organization within
the monetary yr 2013 fell slightly to €fifty one.1 billion [$70.518 billion]
from €52.0 billion [$71.823 billion] because of foreign money effects.
Munich Re also referred to that it reinsurance business
discipline contributed €2.8 billion [$3.867 billion] down from €3.1billion
[$4.282 billion] to the consolidated end result. This become “in part because
of the lower earnings from investments; the working end result reduced from
€4.3 billion [5.94 billion] to €3.5 billion [$4.834 billion].
Munich Re is aiming for a earnings of €3 billion [$4.1437
billion] in 2014, as CEO Nikolaus von Bomhard expressed his optimism
approximately the further development of the group’s business possibilities
this 12 months.
Munich Re’s 2013 income changed into €three.three billion
[$4.558 billion], the 1/3-pleasant result in the business enterprise’s history.
As a end result the world’s biggest reinsurer has introduced a dividend
increase – subject to shareholder approval – to €7.25 from €7.00 [$10.01 from
$9.67] in step with proportion. further, Munich Re announced every other share
purchase-returned with a quantity of up to €1 billion [$1.381 billion] are again
to be repurchased before the once a year wellknown meeting in 2015.
Von Bomhard said: “The end result for 2013 is a sign of how
we've got located ourselves competitively – we've strategically organized
Munich Re for foreseeable challenges which we will now address from a position
of electricity.” these demanding situations protected the lingering
low-interest-charge surroundings, growing opposition in reinsurance, and
adjustments in demand from customers in number one coverage.
“we have carried out our homework in current years. Our
capital base is extra than stable, in reinsurance we're dedicated to
solution-finding competence, and in primary coverage we're bringing a visionary
concept to the German marketplace with our new era of life insurance products”,
emphasised von Bomhard. “We want our shareholders to participate in Munich Re’s
fulfillment.”
No comments:
Post a Comment