FRANKFURT: Munich Re, the world's leading reinsurer, said Thursday that it would increase its dividend payout to shareholders for 2015 after profits last year were "pleasing".
"Despite a difficult market environment, Munich Re posted a consolidated result of 3.1 billion euros ($3.4 billion)for 2015 -- which almost matched the very good result of 3.2 billion euros from the previous year," the group said in a statement.
Underlying or operating profit rose to 4.8 billion euros in 2015 from 4.0 billion euros a year earlier.
Gross premiums increased to 50.4 billion euros from 48.8 billion euros, Munich Re said.
"Due to the fact that the market environment is so challenging, the 2015 result is pleasing," said chief financial officer, Joerg Schneider.
"The good result is mainly due to our operational profitability and rock-solid balance sheet."
Shareholders would participate in the group's success through a much higher dividend, Munich Re said.
Subject to approval by the supervisory board and annual general meeting, the dividend would rise to 8.25 euros per share from 7.75 euros.
The reinsurer said that "various one-off factors that had a net positive effect" on earnings, including the low impact of major losses from natural catastrophes.
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