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Munich Re outlines FY'19 profit expectations

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.