Muenchener Rueckversicherungs-Gesellschaft AG

Muenchener Rueckversicherungs-Gesellschaft is engaged in reinsurance, primary insurance and asset management. Co.'s international life business is written in the Life Division. The Global Clients and North America division manages accounts with international insurance groups. The Europe and Latin America division manages property-casualty business in Europe, Latin America and the Caribbean. The Germany, Asia Pacific and Africa division conducts property-casualty business in Germany, Africa, Asia, Australia and the Pacific Islands. The Special and Financial Risks division manages the classes of credit, aviation and space, agriculture, enterprise and contingency risks.
  • Ticker843002
  • ISINDE0008430026
  • SectorNonlife Insurance
  • CountryGermany

Analysts

Henry Heathfield

Morningstar | MUV2 Updated Forecasts and Estimates from 13 May 2019

Munich Re is probably one of the most conservative and well-run reinsurance companies under our coverage. But the business is dragged down by its collection of primary insurance units, that span life and health Germany, property and casualty Germany, and International. Life and health Germany is the biggest of these three franchises, but it is also where the business has had the most problems in generating adequate returns for shareholders. We think International has had problems with keeping pressure on cost control. Overall, ERGO accounts for about 35% of full year 2018 Group operating profi...

Henry Heathfield

Morningstar | Munich Re - Better ERGO Turnaround Traction

Munich Re is probably one of the most conservative and well-run reinsurance companies under our coverage. But the business is dragged down by its collection of primary insurance units, that span life and health Germany, property and casualty Germany, and International. Life and health Germany is the biggest of these three franchises, but it is also where the business has had the most problems in generating adequate returns for shareholders. We think International has had problems with keeping pressure on cost control. Overall, ERGO accounts for about 35% of full year 2018 Group operating profi...

Henry Heathfield

Munich Re - Better ERGO Turnaround Traction

Munich Re reported net income for the first quarter of EUR 635 million. This is slightly below our expectations and below the EUR 830 million in the comparable period a year ago. The market expects something in the region of EUR 2.5 billion for the full year. We think the sell-off after the results release is generally because the first three months are typically some of the best in terms of natural catastrophe for reinsurance businesses, and the market has been long this stock because of percei...

1 director maiden bought

A director at Munchener Ruckversicherungs AG maiden bought 2,500 shares at 206.000EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing r...

Henry Heathfield

Morningstar | Munich Re's 1Q in Line; Stock Fairly Valued

Munich Re reported net income for the first quarter of EUR 635 million. This is slightly below our expectations and below the EUR 830 million in the comparable period a year ago. The market expects something in the region of EUR 2.5 billion for the full year. We think the sell-off after the results release is generally because the first three months are typically some of the best in terms of natural catastrophe for reinsurance businesses, and the market has been long this stock because of perceived higher quality. We still think 1.2 times book value is a justified multiple for this business, a...

Henry Heathfield

Morningstar | MUV2 Updated Forecasts and Estimates from 13 May 2019

Munich Re is probably one of the most conservative and well-run reinsurance companies under our coverage. But the business is dragged down by its collection of primary insurance units, that span life and health Germany, property and casualty Germany, and International. Life and health Germany is the biggest of these three franchises, but it is also where the business has had the most problems in generating adequate returns for shareholders. We think International has had problems with keeping pressure on cost control. Overall, ERGO accounts for about 35% of full year 2018 Group operating profi...

Henry Heathfield

Morningstar | Munich Re - Better ERGO Turnaround Traction

Munich Re is probably one of the most conservative and well-run reinsurance companies under our coverage. But the business is dragged down by its collection of primary insurance units, that span life and health Germany, property and casualty Germany, and International. Life and health Germany is the biggest of these three franchises, but it is also where the business has had the most problems in generating adequate returns for shareholders. We think International has had problems with keeping pressure on cost control. Overall, ERGO accounts for about 35% of full year 2018 Group operating profi...

Henry Heathfield

Munich Re - Better ERGO Turnaround Traction

Munich Re reported net income for the first quarter of EUR 635 million. This is slightly below our expectations and below the EUR 830 million in the comparable period a year ago. The market expects something in the region of EUR 2.5 billion for the full year. We think the sell-off after the results release is generally because the first three months are typically some of the best in terms of natural catastrophe for reinsurance businesses, and the market has been long this stock because of percei...

Henry Heathfield

Morningstar | Munich Re's 1Q in Line; Stock Fairly Valued

Munich Re reported net income for the first quarter of EUR 635 million. This is slightly below our expectations and below the EUR 830 million in the comparable period a year ago. The market expects something in the region of EUR 2.5 billion for the full year. We think the sell-off after the results release is generally because the first three months are typically some of the best in terms of natural catastrophe for reinsurance businesses, and the market has been long this stock because of perceived higher quality. We still think 1.2 times book value is a justified multiple for this business, a...

Henry Heathfield

Munich Re's 1Q in Line; Stock Fairly Valued

Munich Re reported net income for the first quarter of EUR 635 million. This is slightly below our expectations and below the EUR 830 million in the comparable period a year ago. The market expects something in the region of EUR 2.5 billion for the full year. We think the sell-off after the results release is generally because the first three months are typically some of the best in terms of natural catastrophe for reinsurance businesses, and the market has been long this stock because of percei...

1 director maiden bought

A director at Munchener Ruckversicherungs AG maiden bought 2,500 shares at 206.000EUR and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing r...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Christophe Chaput
  • Delphine Brault
  • Geoffroy Michalet
  • Olfa Taamallah
  • Roland Pfaender
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/21/2019

We are downgrading Vivendi to Neutral vs Buy (target price unchanged at € 26.2) and we recommend taking positions on Bolloré (Buy, target price of € 5 vs € 4.8). Vivendi’s share price implicitly values UMG at more than € 23bn, offering limited potential for a pleasant surprise at the time of the sale of part of the subsidiary’s capital. In contrast, Bolloré seems to offer greater upside: 1/ the outlook for Bolloré Transport & Logistics looks particularly bright out to 2021, buoyed by ...

Alain William ...
  • Alfred Glaser
  • Antoine Boivin-Champeaux
  • Delphine Brault
  • Olfa Taamallah
  • Roland Pfaender
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 21/03/2019

Nous dégradons Vivendi à Neutre vs Achat (OC inchangé de 26,2 €) et conseillons de se positionner sur Bolloré (Achat ; OC de 5 € vs 4.8 €). Le cours de Vivendi valorise implicitement UMG à plus de 23 Md€ offrant un potentiel limité de bonne surprise lors de la cession d’une partie du capital de cette filiale. Au contraire, le titre Bolloré nous semble recéler un potentiel plus important : 1/ les perspectives de Bolloré Transport & Logistics nous paraissent particulièrement porteuses d...

Alex Koagne ...
  • Alexandre Iatrides
  • Alfred Glaser
  • Anis Zgaya
  • Charles Lepetitpas
  • Delphine Brault
  • Emmanuel Matot
  • François Maury
  • Georges Dieng
  • Jean Sassus
  • Jerôme Bodin
  • Johanna Jourdain
  • Laurence Hofmann
  • Léopold Authié
  • Louis Boujard
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Pierre Corby
  • Roland Pfaender
  • Samantha Jeary
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 08/11/2018

Quelques semaines après que l’Etat ait officiellement mandaté des conseils pour travailler sur « l’architecture d’EDF », nous revenons sur les principales hypothèses d’évolution et leurs conséquences financières. Notre approche statu quo nous amène à une valorisation du titre entre 18.0 € (+20%) et 19.2 € (+28%), en fonction de la PPE, tandis que les hypothèses alternatives, avec régulation totale du nucléaire ou sanctuarisation du nucléaire, la porterait entre 22.5 € (+50%) et 24.0 €...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10/29/2018

The current sell-off and the previous corrections have the same causes: doubts on the macro-economic cycle with fears of a brutal slowdown potentially aggravated by a pro-cyclical monetary policy. The US bond market has an optimistic view of this apocalyptic picture. The potential for the yield on US Treasuries to increase via real rates seems exhausted and paves the way for a decline in long-term rates, a support factor for equities, provided, however, that the Democrats prevail. Th...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Louis Boujard
  • Michael Foundoukidis
  • Nicolas David
  • Olfa Taamallah
  • Philippe Ourpatian
  • Pierre Tegner
  • Roland Pfaender
  • Samantha Jeary
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon
  • Thomas Zlowodzki
  • Veysel Taze
  • Virginie Rousseau
  • Yan Derocles
  • Yassine Batini

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 29/10/2018

Le sell-off actuel et les corrections précédentes ont les mêmes causes : doutes sur le cycle macroéconomique avec crainte d’un ralentissement violent, potentiellement aggravé par une politique monétaire procyclique. Le marché obligataire US oppose une vision optimiste à ce tableau apocalyptique. Le potentiel de progression du rendement de l’UST via les taux réels semble épuisé et ouvre la porte à une baisse des taux longs, facteur de soutien pour les actions à condition toutefois que ...

With a more favourable environment, MUNCH.RVRS.GESELL.AG IN improves to Slightly Positive

MUNCH.RVRS.GESELL.AG IN (DE), a company active in the Reinsurance industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 4 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date January 11, 2019, the closing price was EUR 192.00 and its potential was estimated at EUR 204.97.

Munich Re

Munich Re

Munich Re

Munich Re

Expert Corporate Governance Service (ECGS)

Muenchener Rueckversicherungs-Gesellschaft AG (Munich Re) - AGM 30 April 2019

General: In line with German law, the auditor of an insurance company like Munich Re is not appointed by the AGM but the Supervisory Board.  Item 5f: We recommend to oppose the re-election of Prof. Dr. Ursula Gather to the Supervisory Board due to concerns over aggregate time commitments.

Munich – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Jérôme VINERIER

Short term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €195.16. Breaking below the support at €175.01 would invalidate the trend.

Jérôme VINERIER

Analyse court terme - MUENCHNER RUECK : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 195,16 €. La rupture du support à 175,01 € invaliderait cette tendance.

Jérôme VINERIER

Analyse court terme - MUENCHNER RUECK : La tendance de fond est clairement orientée à la hausse.

La tendance de fond est clairement orientée à la hausse. Les cours progressent encore, mais le mouvement montre moins de puissance. La prochaine résistance est à 195,16 €. La rupture du support à 175,01 € invaliderait cette tendance.

Jérôme VINERIER

Short term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. Prices are still making progress but there is less power in the movement. The next resistance is at €195.16. Breaking below the support at €175.01 would invalidate the trend.

Valérie GASTALDY

Medium term view - MUENCHNER RUECK : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €162.50.

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