Munich Re Profit Rises With Marginal Hit From Iran War
By Aimee Look
Munich Re reported a rise in first-quarter profit, while it posted a limited hit in claims from the Iran war.
The German reinsurer booked net profit of 1.71 billion euros ($2.02 billion) for the first three months of 2026 compared with 1.09 billion euros for the prior year period. Analysts had expected 1.66 billion euros in net profit, according to estimates compiled by Visible Alpha.
Munich Re said claims from the Iran war were around 90 million euros, with 60 million euros attributable to Global Specialty Insurance, and 30 million to property-casualty reinsurance.
Revenue from insurance contracts was 15.02 billion euros, compared with 15.81 billion euros the year prior in the same period. Analysts had seen insurance revenue from insurance contracts at 16.07 billion euros. Munich Re attributed the decline to adverse currency translation effects.
Investment result was 1.68 billion euros, with a return on investment of 2.9%, which the company said was achieved despite recent volatility in capital markets.
Munich Re backed its outlook for the year of 6.3 billion euros in net profit.
Write to Aimee Look at aimee.look@wsj.com
(END) Dow Jones Newswires
May 12, 2026 02:16 ET (06:16 GMT)
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