Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGY)

यह पैसा कैसे कमाती है

Revenue is the premium collected for agreeing to take on risk, whether from another insurer (reinsurance) or directly from a policyholder (ERGO). Profit comes from two sources: an underwriting result, when premiums collected exceed claims paid and expenses, and investment income earned on the funds held between collecting a premium and eventually paying claims. Both depend on pricing risk accurately, which is the core skill of the business.

सेगमेंट के अनुसार राजस्व

Underwriting catastrophe and life risk well requires decades of loss data, capital strong enough to survive a very bad year, and pricing discipline, which keeps the reinsurance market concentrated among a handful of large global players. The advantage is real but not exclusive: Swiss Re, Hannover Re and others compete on the same basis for the same large ceding companies.

Reinsurance pricing moves in multi-year hard and soft cycles driven by recent loss experience rather than by GDP: after a run of large catastrophe losses, prices and terms harden industry-wide, and they soften again once capital rebuilds and competition returns.

प्रमुख जोखिम

• Natural catastrophe and climate risk — Insurance risk, mainly property-casualty underwriting risk, makes up around 60% of the group's regulatory capital requirement. Global natural-disaster losses reached about $224 billion in 2025, of which insurers covered roughly $108 billion, and Munich Re carries a direct share of that exposure.
• Market risk on the investment portfolio — Premiums held between collection and claims payment are invested in bonds and other assets, so swings in interest rates and capital markets affect both investment income and the value of reserves held against future claims.
• Credit and counterparty risk — The group is exposed to the risk that ceding companies, retrocessionaires or bond issuers in its investment portfolio fail to meet their obligations, one of the risk categories tracked under its Solvency II capital model.