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Munich Re aims for 2023 consolidated profit of €4bn under IFRS 17

Written by Adam Cadle
15/12/2022

Munich Re is aiming for a consolidated profit of roughly €4bn for the 2023 financial year under the new IFRS 17 reporting standard, with a profit of around €3.3bn expected in the reinsurance field of business.

The reinsurer said it anticipates insurance revenues, which it notes represents the IFRS 17 item that will replace premiums in the future, are projected to hit €58bn across the business.

Group-wide, it’s expected that the return on investment will amount to at least 2.2% for 2023.

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