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One of the world's largest reinsurers, providing property/casualty and life/health reinsurance plus primary insurance via ERGO.
One of the world's largest reinsurers, providing property/casualty and life/health reinsurance plus primary insurance via ERGO.
Insures other insurers: it collects premiums and pays out when a catastrophe or large claim hits them, so results swing with disasters and with the prices it negotiates at annual renewals, concentrated around 1 January. Its primary-insurance arm ERGO sells policies direct to households. Premiums are invested, adding income.
In one line: A global reinsurer akin to a Berkshire Hathaway reinsurance arm/RGA.
Moat: wide (scale, IP / patents, data). Massive balance sheet and decades of proprietary catastrophe/risk data give underwriting and pricing advantages.
Headquarters: Munich, Germany · Founded: 1880 · Employees: 43,982
Size Munchener Ruckversicherungs-Gesellschaft (MUV2.DE) is a Germany Financials company (Life/Health Insurance) with a market value of $80.3B, the 6th largest of 205 Germany companies the cockpit tracks. Shares closed at €569.20 on 6 Nov 2026.
Performance Over six months the shares gained 21.6%, against +16.3% for the median peer and +2.6% for the Germany market (cap-weighted) — 5th highest of 13 in its peer set.
Growth Revenue grew 0.1% over the last twelve months (peer median +7.3%); the operating margin is 14.7% (peer median 11.6%).
Valuation It trades at 2.13× book value against a peer median of 1.40× (6th most expensive of 13).
Price implies The share price implies a return on equity of about 9.0%; Munchener Ruckversicherungs-Gesellschaft delivers 21.4%, so the price asks less than the business earns today.
Credit Munchener Ruckversicherungs-Gesellschaft has 7 bonds outstanding ($9.46B), rated A+ by the agencies.
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | €70.8B | €69.3B | €69.1B | €64.9B | €64.1B |
| Revenue growth | — | 0% | +6% | +1% | — |
| Net income | €6.87B | €6.12B | €5.70B | €4.61B | €5.31B |
| Free cash flow | n/a | €1.10B | €9.62B | €5.68B | -€2.53B |
| Capital expenditure | n/a | €300M | €316M | €346M | €349M |
| Total debt | €7.39B | €7.43B | €6.32B | €5.15B | €5.10B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% |
| Swiss Re SREN.SW | $50.6B | +27% | -12% | 20% | 2.27× | 6.1% |
| Hannover Rueck HNR1.DE | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% |
| Berkshire Hathaway BRK-B | $1.22T | +20% | +4% | 12% | 1.64× | 10.8% |
| Scor SCR.PA | $6.96B | +10% | -4% | 19% | 1.44× | 9.8% |
| Reinsurance Group of America RGA | $17.1B | +24% | +20% | 12% | 1.25× | 8.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | MUV2.DE | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +9.7% | +3.8% | 3rd highest of 13 |
| 6-month return | +21.6% | +16.3% | 5th highest of 13 |
| Return on equity | 21.4% | 13.1% | 2nd highest of 13 |
| Price / book | 2.13× | 1.40× | 6th most expensive of 13 |
| Trailing P/E | 10.6× | 12.9× | 2nd cheapest of 13 |
| ROE the price implies | 9.0% | 9.2% | 7th least demanding of 13 |
| ROE delivered | 21.4% | 13.3% | 2nd highest of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Munchener Ruckversicherungs-Gesellschaft MUV2.DE | Germany | $80.3B | +22% | 0% | 21% | 2.13× | 9.0% | 21.4% |
| Manulife Financial MFC.TO | Canada | $72.2B | +13% | +18% | 13% | 2.22× | 13.0% | 12.9% |
| Life Insurance Corp. of India LICI.NS | India | $53.0B | -3% | +11% | 7% | 0.68× | 11.8% | n/a |
| Cathay Financial Hldg 2882.TW | Taiwan | $47.0B | +42% | -16% | 15% | 1.40× | 7.0% | 14.6% |
| Prudential Financial PRU | United States | $41.1B | +20% | +4% | 13% | 1.39× | 11.4% | 12.6% |
| Hannover Rueck HNR1.DE | Germany | $39.6B | +24% | -2% | 22% | 2.66× | 8.3% | 22.4% |
| Japan Post Hldgs 6178.T | Japan | $39.0B | +24% | 0% | 5% | 0.62× | 4.4% | 4.5% |
| Daiichi Life 8750.T | Japan | $39.0B | +18% | +17% | 14% | 1.34× | 8.1% | 13.6% |
| Talanx TLX.DE | Germany | $37.6B | +24% | +2% | 20% | 2.33× | 10.2% | 19.8% |
| Swiss Life SLHN.SW | Switzerland | $33.0B | +14% | 0% | 20% | 4.25× | 15.4% | 20.0% |
| Bajaj Finserv BAJAJFINSV.NS | India | $31.6B | +2% | +17% | 13% | 3.55× | 54.3% | 13.3% |
| Samsung Life 032830.KS | South Korea | $31.0B | -6% | +13% | 3% | 0.29× | 4.5% | 3.2% |
| NN Group N.V. NN.AS | Netherlands | $22.4B | +4% | +39% | 9% | 1.08× | 6.9% | 9.2% |
Munchener Ruckversicherungs-Gesellschaft has 7 bonds outstanding with $9.46B face value. The agencies rate it A+.