Executive Summary
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München engages in the insurance and reinsurance businesses worldwide. More Details
Rewards
Risk Analysis
Snowflake Analysis
Established dividend payer with moderate growth potential.
Similar Companies
Share Price & News
How has Münchener Rückversicherungs-Gesellschaft in München's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: MUV2 is less volatile than 75% of German stocks over the past 3 months, typically moving +/- 3% a week.
Volatility Over Time: MUV2's weekly volatility (3%) has been stable over the past year.
Market Performance
7 Day Return
1.6%
MUV2
-0.6%
DE Insurance
-0.8%
DE Market
1 Year Return
25.2%
MUV2
27.2%
DE Insurance
36.3%
DE Market
Return vs Industry: MUV2 underperformed the German Insurance industry which returned 27.3% over the past year.
Return vs Market: MUV2 underperformed the German Market which returned 38.3% over the past year.
Shareholder returns
| MUV2 | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.6% | -0.6% | -0.8% |
| 30 Day | -7.2% | -3.5% | -1.1% |
| 90 Day | 4.5% | 7.9% | 5.7% |
| 1 Year | 30.2%25.2% | 32.5%27.2% | 41.0%36.3% |
| 3 Year | 45.0%27.7% | 33.0%15.9% | 19.7%9.4% |
| 5 Year | 93.3%55.5% | 90.9%52.7% | 54.8%32.8% |
Long-Term Price Volatility Vs. Market
How volatile is Münchener Rückversicherungs-Gesellschaft in München's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 week ago | Simply Wall St
Why It Might Not Make Sense To Buy Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (ETR:MUV2) For Its Upcoming DividendValuation
Is Münchener Rückversicherungs-Gesellschaft in München undervalued compared to its fair value and its price relative to the market?
>50%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: MUV2 (€244.1) is trading below our estimate of fair value (€567.95)
Significantly Below Fair Value: MUV2 is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: MUV2 is poor value based on its PE Ratio (28.3x) compared to the DE Insurance industry average (13.4x).
PE vs Market: MUV2 is poor value based on its PE Ratio (28.3x) compared to the German market (27.9x).
Price to Earnings Growth Ratio
PEG Ratio: MUV2 is poor value based on its PEG Ratio (1.3x)
Price to Book Ratio
PB vs Industry: MUV2's PB Ratio (1.1x) is in line with the DE Insurance industry average.
Future Growth
How is Münchener Rückversicherungs-Gesellschaft in München forecast to perform in the next 1 to 3 years based on estimates from 15 analysts?
21.6%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: MUV2's forecast earnings growth (21.6% per year) is above the savings rate (0.01%).
Earnings vs Market: MUV2's earnings (21.6% per year) are forecast to grow faster than the German market (19.4% per year).
High Growth Earnings: earnings are expected to grow significantly over the next 3 years.
Revenue vs Market: MUV2's revenue (1.4% per year) is forecast to grow slower than the German market (5.6% per year).
High Growth Revenue: MUV2's revenue (1.4% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: MUV2's Return on Equity is forecast to be low in 3 years time (11.1%).
Past Performance
How has Münchener Rückversicherungs-Gesellschaft in München performed over the past 5 years?
-7.7%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: MUV2 has high quality earnings.
Growing Profit Margin: MUV2's current net profit margins (2.1%) are lower than last year (4.7%).
Past Earnings Growth Analysis
Earnings Trend: MUV2's earnings have declined by 7.7% per year over the past 5 years.
Accelerating Growth: MUV2's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: MUV2 had negative earnings growth (-55.5%) over the past year, making it difficult to compare to the Insurance industry average (-15.2%).
Return on Equity
High ROE: MUV2's Return on Equity (4%) is considered low.
Financial Health
How is Münchener Rückversicherungs-Gesellschaft in München's financial position?
Financial Position Analysis
Short Term Liabilities: MUV2's short term assets (€34.5B) do not cover its short term liabilities (€101.6B).
Long Term Liabilities: MUV2's short term assets (€34.5B) do not cover its long term liabilities (€166.3B).
Debt to Equity History and Analysis
Debt Level: MUV2's debt to equity ratio (21.1%) is considered satisfactory.
Reducing Debt: MUV2's debt to equity ratio has increased from 16.6% to 21.1% over the past 5 years.
Debt Coverage: MUV2's debt is well covered by operating cash flow (113.8%).
Interest Coverage: MUV2's interest payments on its debt are well covered by EBIT (6x coverage).
Balance Sheet
Dividend
What is Münchener Rückversicherungs-Gesellschaft in München current dividend yield, its reliability and sustainability?
4.01%
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: MUV2's dividend (4.01%) is higher than the bottom 25% of dividend payers in the German market (1.05%).
High Dividend: MUV2's dividend (4.01%) is in the top 25% of dividend payers in the German market (3.14%)
Stability and Growth of Payments
Stable Dividend: MUV2's dividends per share have been stable in the past 10 years.
Growing Dividend: MUV2's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its high payout ratio (113.5%), MUV2's dividend payments are not well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: MUV2's dividends in 3 years are forecast to be well covered by earnings (45.3% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
4.1yrs
Average management tenure
CEO
Joachim Wenning (55 yo)
4.08yrs
Tenure
€5,874,416
Compensation
Dr. Joachim Wenning joined Münchener Rückversicherungs-Gesellschaft AG (“Munich Re”) in 1991, where he worked until early 1997 as a treaty specialist with technical responsibility for life reinsurance clie...
CEO Compensation Analysis
Compensation vs Market: Joachim's total compensation ($USD7.05M) is above average for companies of similar size in the German market ($USD5.15M).
Compensation vs Earnings: Joachim's compensation has been consistent with company performance over the past year.
Leadership Team
Experienced Management: MUV2's management team is considered experienced (4.1 years average tenure).
Board Members
Experienced Board: MUV2's board of directors are considered experienced (7.1 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
- Ticker: MUV2
- Exchange: XTRA
- Founded: 1880
- Industry: Reinsurance
- Sector: Insurance
- Market Cap: €33.428b
- Shares outstanding: 140.10m
- Website: https://www.munichre.com
Number of Employees
Location
- Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
- Königinstrasse 107
- Munich
- Bavaria
- 80802
- Germany
Listings
Biography
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München engages in the insurance and reinsurance businesses worldwide. It operates through five segments: Life and Health Reinsurance; Propert...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/05/06 18:47 |
| End of Day Share Price | 2021/05/06 00:00 |
| Earnings | 2020/12/31 |
| Annual Earnings | 2020/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.