Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (OTCPK:MURGY) Q1 2025 Results Conference Call May 13, 2025 5:30 PM ET
Company Participants
Christian Becker-Hussong – Head, Investor & Rating Agency Relations
Christoph Jurecka – Chief Financial Officer
Conference Call Participants
Andrew Baker – Goldman Sachs
Michael Huttner – Berenberg
Kamran Hossain – JPMorgan
Ivan Bokhmat – Barclays
Shanti Kang – Bank of America
Will Hardcastle – UBS
Chris Hartwell – Autonomous
Darius Satkauskas – KBW
Vinit Malhotra – Mediobanca
Iain Pearce – Exane BNP Paribas
Faizan Lakhani – HSBC
James Shuck – Citi
Operator
Ladies and gentlemen, welcome to the quarterly statement as of March 31, 2025, of Munich Re. I’m Moritz, the Chorus Call operator. [Operator Instructions] The conference is being recorded. [Operator Instructions] The conference must not be recorded for publication or broadcast.
At this time, it’s my pleasure to hand over to Christian Becker-Hussong. Please go ahead, sir.
Christian Becker-Hussong
Yes. Thank you, Moritz, and welcome to everyone joining us this morning for our Q1 earnings call with our CFO, Christoph Jurecka. Same procedure as every quarter. Christoph will start with a short statement. Then we will go right into Q&A as always. Christoph, please go ahead.
Christoph Jurecka
Thank you, Christian. Good morning, everybody, also from my side. A big pleasure to be able to talk a bit about our Q1. And as Christian said, just a few introductory remarks, and then we can go into the questions right away.
Q1 was a quarter with quite some volatility in the sector’s core insurance business and also capital market returns. While our underlying technical profitability continues to be very strong overall, high large losses, fair value changes in the investment result and significant currency movement affected our net earnings. By contrast, ERGO and Life Re posted earnings in line or above expectation.
Read the full article here