Munich Re said on 23 October that its preliminary net profit for the third quarter of 2026 was about €1.7bn. This is above the analyst consensus of €1.479bn, which the company gives as the mean of 13 estimates. Net profit for the first nine months of the year was about €5.7bn.
The group raised its target for full-year 2026 net profit to €6.6bn, from €6.3bn. It linked the quarter to good operating results in all segments, to major losses in property-casualty reinsurance that stayed "below average expectations", and to a strong investment result in reinsurance. The release gives no figures by segment.
Munich Re added that it could strengthen its balance sheet further in the fourth quarter, depending on how major losses develop for the rest of the year. To reach the new target, the group needs about €900m of profit in the fourth quarter, Insurance Business calculated.
The upgrade comes while reinsurance prices fall. Insurance Business reported that Munich Re wrote less business at each 2026 renewal round: volume fell 18.5% at the April renewals and 9.1% in July, when risk-adjusted prices fell 5.5%. The complete third-quarter report is due on 12 November.
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Munich Re ↗Company · 23 Oct 2026
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