Munich Re slips on ‘dramatic’ drop in P&C reinsurance revenues

Muenchener Rueckversicherungs-Gesellschaft in Muenchen AG

12/05/2026 09:06

** Shares in German reinsurer Munich Re MUVGn.DE slip over 3% following disappointing property and casualty revenues in the first quarter and a fall in April renewals

** P&C revenues fell 20% as renewals and currency effects had a negative impact, echoing similar pressure across peers

** JP Morgan calls the decline P&C and global specialty insurance "fairly dramatic"

** April renewals offered little relief, showing a 3.1% price decline on volumes down 18.5%

** "Given that some peers continued to grow at renewal, we expect that this will be the focus of many investors today" - says Jefferies, adding investment returns were lower and foreign exchange was a drag

 (Reporting by Bernadette Hogg)

 ((bernadette.hogg@thomsonreuters.com))