In its new multi-year strategy, Ambition 2030, Christoph Jurecka, Chief Financial Officer and designated Chair of the Board of Management at Munich Re, stated that the firm aims to reach even higher peaks in every respect, thereby outpacing and outperforming its peers by the end of the cycle.
The firm is also targeting an IFRS net profit of €6.3 billion in 2026.
Expanding on these ambitions, Munich Re has now revealed plans to sustain its profitable growth in reinsurance.
According to the firm, in this field of business, insurance revenue is expected to reach between €48-57 billion by 2030.
Meanwhile, in P&C reinsurance, Munich Re stated that it is well prepared for a more competitive environment and is aiming for the highest profitability over the market cycle compared to its competitors.
“This is supported by our strong market position with sustained high demand for reinsurance cover, particularly in the area of natural catastrophes, a portfolio that is less price-sensitive and more balanced than those of our competitors, and the correspondingly high degree of flexibility and effectiveness in cycle management,” The firm added.
Thus, this segment’s insurance revenue is expected to reach €18-21 billion by 2030, corresponding to a CAGR of 0–3% versus 2025, while maintaining high profitability with a combined ratio of 79–83% by 2030 (original 2025 target: 79%).
At the same time, in L&H reinsurance, Munich Re plans to increase the new business CSM and the total technical result each year.
This will reportedly be achieved in part by strengthening established earnings drivers, such as 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, for example, by deepening partnerships with specialised asset managers.
The segment’s insurance revenue is expected to reach €18–22 billion by 2030, corresponding to a CAGR of 8–12% versus 2025, with the total technical result projected to rise from the 2025 target of €1.7 billion to €2.4–2.7 billion by 2030.
For the Global Specialty Insurance segment, Munich Re observed that it aims to achieve continuous revenue and earnings growth.
To this end, the firm 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 submarkets in which it currently has little presence (e.g. in the Excess & Surplus business in North America).
The segment’s insurance revenue is expected to amount to €12–14 billion by 2030, corresponding to a CAGR of 5–9% compared to 2025, with the combined ratio targeted to be reduced to 87–90% by 2030 (vs. the original 2025 target of 90%).
Jurecka commented, “Our new Ambition 2030 builds on the factors that made Ambition 2025 a success and is based on the motto ‘Outpeak, Outpace, Outperform’. We want to reach even higher peaks in every respect in order to outpace and outperform our peers by 2030.
“To do so, we will profitably expand our business in all segments. Our shareholders will enjoy an even greater share of our earnings. Thanks to our solid financial footing, we will be a steadfast partner for our customers, through varying market cycles.
“At the same time, we will reduce complexity and combine our market-leading know-how with artificial intelligence to boost our speed. Accordingly, our employees and society as a whole will benefit in a number of ways from a global, modern and innovative company.”
Joachim Wenning, Chair of the Board of Management, added, “Now more than ever, Munich Re is a financial powerhouse. We are achieving record-breaking results year after year and expect to exceed all financial and non-financial targets of the nearly complete Ambition 2025.
“Our net result has become even more stable thanks to the increasing diversification of our earnings drivers. All our stakeholders benefit from our strength, expertise and reliability.”
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