By Olivia Bugault
Munich Re on Tuesday set new financial targets for the five next years as part of its 'Ambition 2025' plan, including higher profitability and environmental initiatives.
The German reinsurance giant said the plan will bolster the growth of its core business and help the development of new business models.
In order to measure the success of its plan, Munich Re set new targets that include getting a return on equity of between 12% and 14% by 2025 and growing earnings per share by 5% or more on average and annually by 2025.
Munich Re also targets an increase of its dividend per share of 5% or more per year on average, while its solvency ratio should remain between 175% and 220%.
"As an environmentally conscientious business, Munich Re will play its part in meeting the targets of the Paris Climate Agreement," the company said. Munich Re said that it targets net-zero emissions in its portfolio investment by 2050. As a first step to achieve this goal, the company will reduce net greenhouse gas emissions in its investment portfolio by 25% to 29% between now and 2025, it said.
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(END) Dow Jones Newswires
December 08, 2020 05:20 ET (10:20 GMT)Copyright (c) 2020 Dow Jones & Company, Inc.