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Münchener Rückversicherungs-Gesellschaft in München

Market Cap

€33.4b

Last Updated

2021/05/06 18:47 UTC

Data Sources

Company Financials +

Executive Summary

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München engages in the insurance and reinsurance businesses worldwide. More Details


Snowflake Analysis

Established dividend payer with moderate growth potential.


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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

MUV2IndustryMarket
7 Day1.6%-0.6%-0.8%
30 Day-7.2%-3.5%-1.1%
90 Day4.5%7.9%5.7%
1 Year30.2%25.2%32.5%27.2%41.0%36.3%
3 Year45.0%27.7%33.0%15.9%19.7%9.4%
5 Year93.3%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

Valuation

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

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/05/06 18:47
End of Day Share Price2021/05/06 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.