In its new multi-year strategy “Ambition 2030”, Munich Re Chief Financial Officer and designated Chairman of the Management Board Christoph Jurecka said the company aims to reach higher peaks in all aspects to outperform its peers at the end of the cycle.
Munich Re recently said it expects its return on equity (ROE) to exceed 18% by 2030, with earnings per share growing more than 8% annually.
The company has also set a target of IFRS net profit of 6.3 billion euros in 2026.
To achieve these ambitions, Munich Re has now unveiled plans to sustain reinsurance earnings growth.
Insurance revenue in this business area is expected to reach 48-57 billion euros by 2030, the company said.
Meanwhile, in property and casualty reinsurance, Munich Re said it is fully prepared for a more competitive environment and is committed to achieving the highest profitability over its competitors over market cycles.
The company added: “This is driven by our strong market position, continued high demand for reinsurance, particularly in the natural catastrophes sector, our portfolio being less price-sensitive and more balanced than our competitors, and a corresponding high degree of flexibility and effectiveness in cycle management.”
As a result, insurance revenue in this segment is expected to reach €1.8-21 billion by 2030, equivalent to a CAGR of 0-3% in 2025, while maintaining high profitability with a combined ratio of 79-83% by 2030 (original 2025 target: 79%).
At the same time, in terms of L&H Reinsurance, Munich Re plans to increase new business CSM and total technical results every year.
This is reportedly being achieved in part by strengthening existing profitability drivers, such as the biometric risk business and reinsurance solutions that provide financing and capital relief, while also expanding the international longevity annuity business and further developing major life portfolio transactions, such as by deepening partnerships with specialist asset managers.
The sector’s insurance revenue is expected to reach €1.8-22 billion by 2030, growing at a CAGR of 8-12% compared to 2025, and total technical results are expected to rise from a target of €1.7 billion in 2025 to €2.4-2.7 billion in 2030.
For the global specialty insurance segment, Munich Re noted that its goal is to achieve continued growth in revenue and profitability.
To this end, the company explained that it is entering new markets in continental Europe and Asia, expanding its product range and tapping potential by gaining market share in attractive sub-markets in which it currently has little presence, such as excess and surplus business in North America.
The segment’s insurance revenue is expected to reach €12-14 billion by 2030, representing a CAGR of 5-9% compared to 2025, with the combined ratio target falling to 87-90% by 2030 (original 2025 target of 90%).
Jurecka commented: “Our new Ambition 2030 builds on the success factors of Ambition 2025, with the motto ‘Beyond Peak, Beyond Speed, Beyond Performance’. We want to reach even higher peaks in every aspect to outperform our peers by 2030.
“To do this, we will expand our business and become profitable in all areas. Our shareholders will receive a greater share of the gains. With our solid financial foundation, we will be a staunch partner to our customers through different market cycles.
“At the same time, we will reduce complexity and combine our market-leading expertise with artificial intelligence to increase our speed. As a result, our employees and society as a whole will benefit in multiple ways from a global, modern and innovative company.”
Joachim Wenning, Chairman of the Management Board, added: “Munich Re is now more than ever a financial giant. We achieve record-breaking results year after year and expect to exceed all financial and non-financial targets in our almost completed 2025 ambition.
“As our profitability drivers become increasingly diverse, our end results become more stable. All our stakeholders benefit from our strength, expertise and reliability.”