Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (ETR:MUV2)

ETR:MUV2 Income Statement

Financials in millions EUR. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	59,000	59,164	56,307	55,187	55,202	51,223
Total Interest & Dividend Income	2,505	1,266	1,693	3,488	5,379	5,607
Gain (Loss) on Sale of Investments	-321	-244	-894	-2,705	2,677	1,741
Other Revenue	914	963	718	395	219	384
Total Revenue	62,098	61,149	57,824	56,365	63,477	58,955
Revenue Growth (YoY)	2.50%	5.75%	2.59%	-11.20%	7.67%	2.49%
Policy Benefits	41,199	42,550	40,693	40,393	45,383	43,077
Selling, General & Administrative	9,176	8,968	8,617	7,807	13,674	12,815
Other Operating Expenses	2,392	2,379	2,568	2,103	730	949
Total Operating Expenses	52,767	53,897	51,878	50,303	59,787	56,841
Operating Income	9,331	7,252	5,946	6,062	3,690	2,114
Interest Expense	-232	-207	-168	-287	-352	-350
Currency Exchange Gain (Loss)	-916	175	-292	1,067	262	-200
Other Non Operating Income (Expenses)	745	546	47	-207	-1	26
EBT Excluding Unusual Items	8,928	7,766	5,533	6,635	3,599	1,590
Merger & Restructuring Charges	-	-	-	-	-57	-51
Asset Writedown	-4	-4	-	-1	-58	-59
Pretax Income	8,924	7,762	5,533	6,634	3,484	1,480
Income Tax Expense	2,701	2,091	936	1,324	552	269
Earnings From Continuing Ops.	6,223	5,671	4,597	5,310	2,932	1,211
Minority Interest in Earnings	11	14	9	3	1	-
Net Income	6,234	5,685	4,606	5,313	2,933	1,211
Net Income to Common	6,234	5,685	4,606	5,313	2,933	1,211
Net Income Growth	10.63%	23.43%	-13.31%	81.15%	142.20%	-55.54%
Shares Outstanding (Basic)	131	133	136	139	140	140
Shares Outstanding (Diluted)	131	133	136	139	140	140
Shares Change (YoY)	-2.40%	-2.27%	-2.43%	-0.52%	-0.13%	-2.33%
EPS (Basic)	47.77	42.78	33.87	38.12	20.94	8.63
EPS (Diluted)	47.77	42.78	33.87	38.12	20.94	8.63
EPS Growth	13.35%	26.30%	-11.15%	82.10%	142.52%	-54.48%
Free Cash Flow	-	2,976	2,395	3,832	5,226	7,219
Free Cash Flow Per Share	-	22.39	17.61	27.50	37.30	51.46
Dividend Per Share	20.000	20.000	15.000	11.600	11.000	9.800
Dividend Growth	33.33%	33.33%	29.31%	5.46%	12.25%	-
Operating Margin	15.03%	11.86%	10.28%	10.76%	5.81%	3.59%
Profit Margin	10.04%	9.30%	7.97%	9.43%	4.62%	2.05%
Free Cash Flow Margin	-	4.87%	4.14%	6.80%	8.23%	12.25%
EBITDA	-	-	8,570	8,686	4,042	2,488
EBITDA Margin	-	-	14.82%	15.41%	6.37%	4.22%
D&A For EBITDA	-	-	2,624	2,624	352	374
EBIT	9,331	7,252	5,946	6,062	3,690	2,114
EBIT Margin	15.03%	11.86%	10.28%	10.76%	5.81%	3.59%
Effective Tax Rate	30.27%	26.94%	16.92%	19.96%	15.84%	18.18%

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.