Munich Re Co. anticipates profit for 2019 to be approximately €2.5 billion, of which about €2.1 billion is attributable to reinsurance and approximately €400 million to ERGO.
In property and casualty reinsurance, the company is aiming for an improved combined ratio of about 98% in 2019.
In the ERGO P&C Germany segment, an improved combined ratio of approximately 93% is anticipated. In the ERGO international segment, the combined ratio is expected to be about 95%.
Munich Re anticipates an investment result of approximately €6.5 billion for 2019, representing a return on investments of about 3%.
Assuming exchange rates remain stable, the reinsurer anticipates gross premiums written of approximately €49 billion in 2019, consisting of gross premium of about €31 billion in reinsurance and approximately €17.5 billion in ERGO.
Total premium income from ERGO is expected to come in at approximately €18.5 billion in 2019.
The reinsurer also announced a €1 billion share repurchase program and proposed to increase the dividend to €9.25 per share.