<div id="readability-page-1"><div> By Elena Vardon <pre></pre> Munich Re reported an 11.5% fall in its fourth-quarter profit as foreign exchange fluctuations dragged on its financial result. The German reinsurer on Thursday posted net profit for the three months ended Dec. 31 of 945 million euros ($1.12 billion), lower than the restated 1.08 billion euros it made for the same period of 2024 and the 1.03 billion-euro estimate taken from a company-compiled consensus. The Bavarian group brought in 15.25 billion euros in insurance revenue from insurance contracts issued for the quarter, in line with estimates of a 15.3 billion-euro result and last year's result. While its investment result came in 10% higher at 1.62 billion euros--representing a return on investment of 2.8%--its net financial result fell by a third to 327 million euros due to a weaker U.S. dollar. &#34;2025 was a pivotal year for Munich Re,&#34; said Chief Executive Christoph Jurecka, the company's former finance chief who took on the top job upon the retirement of Joachim Wenning at the end of last year. The reinsurer surpassed its 6.0 billion euro net profit target for the year. Munich Re reiterated the guidance for 2026 it issued at an investor day in December. The group forecasts around 6.3 billion euros in net profit on group insurance revenue of around 64 billion euros, with a return on investment above 3.5%. The group is planning to reward shareholders with a dividend of 24.0 euros per share along with an up to 2.25 billion euro share buyback program, it said Wednesday. <pre></pre> Write to Elena Vardon at elena.vardon@wsj.com <pre></pre> (END) Dow Jones Newswires February 26, 2026 02:33 ET (07:33 GMT)Copyright (c) 2026 Dow Jones &amp; Company, Inc.</div></div>

安聯保險集團

慕尼黑再保險公司

MURGY

慕尼黑再保險公司報告第四季度利潤下降 11.5%，總計為 9.45 億歐元，受到外匯波動的影響。該再保險公司的保險收入與預期一致，達到 152.5 億歐元，而投資收益增長了 10%，達到 16.2 億歐元。首席執行官 Christoph Jurecka 指出，2025 年是關鍵年份，利潤目標超過 60 億歐元。公司預計 2026 年淨利潤為 63 億歐元，並計劃每股派息 24 歐元，同時實施高達 22.5 億歐元的股票回購計劃

慕尼黑再保險公司的利潤受到匯率不利因素的影響