Munich Re Reports Record €5.7 Billion Profit and Announces Highest-Ever Dividend

The world's largest reinsurer benefits from rising demand for coverage despite mounting costs from natural disasters.

Munich Re achieved a 23% profit increase in 2024, reaching €5.7 billion, surpassing its original target of €5 billion.
The company announced a record dividend of €20 per share, up from €15, marking the highest payout in its history.
Natural disasters, including the Los Angeles wildfires, cost Munich Re €1.2 billion in claims, with total damages from the fires estimated at $35–40 billion industry-wide.
Despite a slight 0.6% decline in reinsurance contract prices during renewals, demand for coverage continues to grow due to the long-term trend of increasing natural disaster-related damages.
Munich Re attributes its strong performance to higher premiums, robust financial market results, and the ongoing impact of climate change driving demand for reinsurance.