Munich Re reported on Tuesday a sharp increase in first-quarter profit, supported by improved operating performance and investment results.
The German group said its net result rose to €1.71 billion ($2 billion), up from €1.09 billion a year earlier. The total technical result increased to €2.68 billion from €2.05 billion, while the operating result climbed to €2.23 billion from €1.46 billion.
Munich Re, one of the world’s largest reinsurance companies, reported a positive net financial result of €139 million, compared with a loss of €95 million in the same period last year.
Insurance revenue from contracts issued declined to €15.02 billion from €15.81 billion, primarily due to adverse currency translation effects.
Looking ahead, Munich Re said it is targeting a net result of €6.3 billion for the 2026 fiscal year.
