Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
Munich Re Group Changing Gear gg
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Backup: <strong>Group</strong><br />
Key figures of <strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
Updated guidance for consolidated result in 2008<br />
Guidance for 2008<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
Consolidated result well above €2.0bn (RoRaC well above 10%), below previously envisaged range of<br />
€3.0–3.4bn<br />
Gross premiums written expected to be unchanged in the range of €36.0–37.5bn<br />
(given stable currency environment)<br />
Combined ratio in reinsurance of 98%, thereof NatCat 6.5% (achievable only if major claims below<br />
expectations)<br />
Combined ratio primary insurance below 95%<br />
RoI target: 4.5% on a sustainable basis; in 2008 €18 by 2010 confirmed<br />
RoRaC of at least 15% over the cycle<br />
Backup: <strong>Group</strong><br />
Key figures of <strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
Significant improvement in profitability<br />
RoE<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong><br />
Mid-term perspective to stand<br />
% %<br />
9.5<br />
12.5<br />
14.1<br />
15.3<br />
RoE<br />
ERGO<br />
Dividend<br />
1 2004 2005 2006 2007 1<br />
2004 2005 2006 2007<br />
1 Adjusted owing to IAS 8.<br />
TARGET<br />
~12% RoE as side consideration<br />
7.4<br />
21.0<br />
TARGET<br />
21.4<br />
Sustainable RoE 12-15%<br />
16.3<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
14<br />
<strong>Munich</strong> <strong>Re</strong> <strong>Group</strong> – October 2008<br />
15
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