MUNICH (dpa-AFX) - Munich Re (0KFE.L), a provider of reinsurance, primary insurance and insurance-related risk solutions, reported that its profit for fiscal year 2019 rose to 2.71 billion euros from 2.28 billion euros last year.
Operating result grew to 4.00 billion euros from 3.73 billion euros in the prior year.
Gross premiums written increased by 4.9% year on year to 51.46 billion euros.
The company said that it is confident to reach the profit target of 2.8 billion euros for 2020 that it set out in our multi-year ambition for 2018-2020. Of this, around 2.3 billion euros will be generated by the reinsurance field of business, and around 530 million euros by the ERGO field of business.
The company will propose to both the Supervisory Board and the Annual General Meeting an increase in the dividend to 9.80 euros per share, and also to launch a further share buy-back programme with a volume of 1 billion euros.
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