XTRA:MUV2

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Münchener Rückversicherungs-Gesellschaft in München

Executive Summary

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


Snowflake Analysis

6 star dividend payer with adequate balance sheet.


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's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-3.4%

MUV2

-5.0%

DE Insurance

-6.9%

DE Market


1 Year Return

-20.3%

MUV2

-27.9%

DE Insurance

-7.4%

DE Market

Return vs Industry: MUV2 exceeded the German Insurance industry which returned -27.9% over the past year.

Return vs Market: MUV2 underperformed the German Market which returned -7.4% over the past year.


Shareholder returns

MUV2IndustryMarket
7 Day-3.4%-5.0%-6.9%
30 Day-10.1%-8.7%-7.8%
90 Day-11.5%-13.4%-4.9%
1 Year-16.6%-20.3%-23.9%-27.9%-4.4%-7.4%
3 Year17.3%2.7%-3.3%-15.9%-9.5%-17.5%
5 Year39.0%10.7%27.5%1.1%12.4%-3.7%

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?

48.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MUV2 (€199.95) is trading below our estimate of fair value (€385.05)

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 (14.9x) compared to the DE Insurance industry average (9.4x).

PE vs Market: MUV2 is good value based on its PE Ratio (14.9x) compared to the German market (21.3x).


Price to Earnings Growth Ratio

PEG Ratio: MUV2 is poor value based on its PEG Ratio (1x)


Price to Book Ratio

PB vs Industry: MUV2's PB Ratio (0.9x) is in line with the DE Insurance industry average.


Next Steps

Future Growth

How is Münchener Rückversicherungs-Gesellschaft in München forecast to perform in the next 1 to 3 years based on estimates from 17 analysts?

14.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MUV2's forecast earnings growth (14.8% per year) is above the savings rate (0.2%).

Earnings vs Market: MUV2's earnings (14.8% per year) are forecast to grow slower than the German market (26% per year).

High Growth Earnings: MUV2's earnings are forecast to grow, but not significantly.

Revenue vs Market: MUV2's revenue (3.6% per year) is forecast to grow slower than the German market (5.9% per year).

High Growth Revenue: MUV2's revenue (3.6% 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 (10.1%).


Next Steps

Past Performance

How has Münchener Rückversicherungs-Gesellschaft in München performed over the past 5 years?

-8.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MUV2 has high quality earnings.

Growing Profit Margin: MUV2's current net profit margins (3.3%) are lower than last year (4.4%).


Past Earnings Growth Analysis

Earnings Trend: MUV2's earnings have declined by 8% 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 (-20.5%) over the past year, making it difficult to compare to the Insurance industry average (-12.4%).


Return on Equity

High ROE: MUV2's Return on Equity (6.3%) is considered low.


Next Steps

Financial Health

How is Münchener Rückversicherungs-Gesellschaft in München's financial position?


Financial Position Analysis

Short Term Liabilities: MUV2's short term assets (€35.2B) do not cover its short term liabilities (€88.6B).

Long Term Liabilities: MUV2's short term assets (€35.2B) do not cover its long term liabilities (€176.0B).


Debt to Equity History and Analysis

Debt Level: MUV2's debt to equity ratio (12.2%) is considered satisfactory.

Reducing Debt: MUV2's debt to equity ratio has reduced from 15.6% to 12.2% over the past 5 years.

Debt Coverage: MUV2's debt is well covered by operating cash flow (222.1%).

Interest Coverage: MUV2's interest payments on its debt are well covered by EBIT (8.4x coverage).


Balance Sheet


Next Steps

Dividend

What is Münchener Rückversicherungs-Gesellschaft in München current dividend yield, its reliability and sustainability?

4.90%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: MUV2's dividend (4.9%) is higher than the bottom 25% of dividend payers in the German market (1.28%).

High Dividend: MUV2's dividend (4.9%) is in the top 25% of dividend payers in the German market (3.89%)


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 reasonable payout ratio (72.9%), MUV2's dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: MUV2's dividends in 3 years are forecast to be well covered by earnings (47.6% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.1yrs

Average management tenure


CEO

Joachim Wenning (55 yo)

3.5yrs

Tenure

€5,627,356

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 ($USD6.62M) is about average for companies of similar size in the German market ($USD5.24M).

Compensation vs Earnings: Joachim's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Joachim Wenning
Chairman of the Management Board3.5yrs€5.63m0.0084%
€ 2.4m
Christoph Jurecka
CFO & Member Management Board1.75yrs€3.29m0.0026%
€ 734.8k
Torsten Jeworrek
Member of the Board of Management & CEO of Reinsurance Business17yrs€3.99m0.0029%
€ 808.5k
Thomas Blunck
Member of the Board of Management15yrs€2.75m0.0032%
€ 919.2k
Peter Röder
Head of GC/NA Division & Member of the Board of Management13yrs€2.73m0.0039%
€ 1.1m
Doris Höpke
Labour Relations Director & Member of the Board of Management6.42yrs€2.73m0.0027%
€ 774.5k
Markus Rieß
Member of the Board of Management5.08yrs€4.01m0.0024%
€ 678.0k
Nicholas Gartside
Chief Investment Officer & Member of Management Board1.58yrs€2.36mno data
Soobum Lee
Head of the Operationno datano datano data
Achim Kassow
Member of Management Board0.42yrno datano data
Christian Becker-Hussong
Head of Investor & Rating Agency Relationsno datano datano data
Andreas Lampersbach
Head of Group Communicationsno datano datano data

5.1yrs

Average Tenure

54.5yo

Average Age

Experienced Management: MUV2's management team is seasoned and experienced (5.1 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Hans-Jürgen Schinzler
Honorary Chairman of the Supervisory Board7.75yrsno datano data
Ann-Kristin Achleitner
Independent Supervisory Board Member7.75yrs€222.50kno data
Frank Fassin
Independent Supervisory Board Member11.5yrs€106.00kno data
Clement Booth
Independent Supervisory Board Member4.5yrs€106.00kno data
Nikolaus von Bomhard
Independent Chairman of the Supervisory Board1.5yrs€282.75kno data
Maximilian Zimmerer
Independent Supervisory Board Member3.25yrs€192.50kno data
Gerd Häusler
Independent Supervisory Board Member6.5yrs€121.00kno data
Benita María Ferrero-Waldner
Independent Supervisory Board Member10.67yrs€106.00kno data
Ulrich Plottke
Independent Supervisory Board Member6.5yrs€151.25kno data
Ursula Gather
Independent Supervisory Board Member6.5yrs€106.00kno data
Anne Horstmann
Independent Deputy Chairman of Supervisory Board1.5yrs€175.08kno data
Gabriele Sinz-Toporzysek
Independent Supervisory Board Member6.5yrs€106.00kno data

6.5yrs

Average Tenure

63yo

Average Age

Experienced Board: MUV2's board of directors are considered experienced (6.5 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: €28.370b
  • 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

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MURG.FOTCPK (Pink Sheets LLC)YesRegistered SharesUSUSDJan 1992
MUV2DB (Deutsche Boerse AG)YesRegistered SharesDEEURJan 1992
0KFELSE (London Stock Exchange)YesRegistered SharesGBEURJan 1992
MUV2BIT (Borsa Italiana)YesRegistered SharesITEURJan 1992
MUV2XTRA (XETRA Trading Platform)YesRegistered SharesDEEURJan 1992
MUV2DBATS-CHIXE (BATS 'Chi-X Europe')YesRegistered SharesGBEURJan 1992
MUVWBAG (Wiener Boerse AG)YesRegistered SharesATEURJan 1992
MUV2 NBMV (Bolsa Mexicana de Valores)YesRegistered SharesMXMXNJan 1992
MUV2SWX (SIX Swiss Exchange)YesRegistered SharesCHCHFJan 1992
MEURVENXTBR (Euronext Brussels)YesRegistered SharesBEEURJan 1992
MUNICHREBUSE (Budapest Stock Exchange)YesRegistered SharesHUHUFJan 1992
MURG.YOTCPK (Pink Sheets LLC)UNSPONSORED ADRUSUSDOct 2008
MUVBDB (Deutsche Boerse AG)UNSPONSORED ADRDEEUROct 2008

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 Analysis2020/10/28 21:41
End of Day Share Price2020/10/28 00:00
Earnings2020/06/30
Annual Earnings2019/12/31


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.