German reinsurer Munich Re announced plans to return €5.3 billion ($6.3 billion) to shareholders through a new buyback program and a higher dividend.
The firm aims to repurchase as much as €2.25 billion of its stock, according to a statement on Wednesday. It is also intends to propose a dividend of €24.00 per share for 2025, up from €20 in the prior year.
Munich Re outlined new mid-term targets in December. Under the strategy, which runs through the end of 2030, it plans to pay out more than 80% of profits through dividends and buybacks. That compares to an average of about 75% between 2020 and 2024.
The new buyback program is slated to start on Apr. 29, Munich Re said in the statement.
“Distributing a high proportion of profits is common in the insurance sector, but Munich Re leads the peer group,” DZ Bank said in a research note last week.
Munich Re generated net income of €945 million in the fourth quarter, bringing the total for the year to €6.1 billion, it said in a separate statement on Thursday. For 2026, Munich Re still aims to achieve a profit of €6.3 billion.
Photograph: The Munich Re logo at a press conference in Munich. Photo credit: Guenter Schiffmann/Bloomberg
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