German company Munich Re, the largest reinsurer worldwide, is aiming for a consolidated profit of some €4 billion ($4.26 billion) in 2023, due to an ongoing "very pleasing operating performance."
The guidance is based on the new International Financial Reporting Standards (IFRS) 17, valid from next year, and can therefore not be compared with previous full-year figures, Munich Re said late Wednesday.
In the field of reinsurance, the company expects revenues of about €39 billion, and a profit of some €3.3 billion for 2023.
For 2022, the executive board most recently expected a surplus of around €3.3 billion according to the previously applicable accounting standard, IFRS 4, but made the result dependent on several positive special effects.
Notice: No person, organization and/or company shall disseminate or broadcast the above article on Xinhua Silk Road website without prior permission by Xinhua Silk Road.
A single purchase
