Munich Re2017年年度报告.pdf

1、Group Annual Report 2017Munich Re2017WE DRIVE BUSINESS AS ONE1 Previous years figures adjusted owing to IAS 8;see“Changes in accounting policies and other adjustments”.2 Including those apportionable to minority interests and policyholders.3 Previous years figures adjusted owing to a change in the c

2、omposition of the reporting segments.Key figures(IFRS)Key figures(IFRS)Munich Re at a glance(XLS,38 KB)Key figures(IFRS)Reinsurance(XLS,36 KB)Key figures(IFRS)ERGO(XLS,35 KB)ERGO3 2017 2016 2015 2014 2013Gross premiums written bn 17.5 17.4 Investments (incl.insurance-related investments)1 bn 141.4 1

3、39.4 Net technical provisions bn 137.6 135.2 Combined ratio property-casualty Germany%97.5 97.0 97.9 95.3 96.7Combined ratio International%95.3 98.0 Reinsurance3 2017 2016 2015 2014 2013Gross premiums written bn 31.6 31.5 Investments (incl.insurance-related investments)1 bn 85.8 91.9 Net technical p

4、rovisions bn 68.1 67.1 Major losses(net)m 4,314 1,542 1,046 1,162 1,689Natural catastrophe losses m 3,678 929 149 538 764Combined ratio property-casualty%114.1 95.7 89.7 92.7 92.1Munich Re at a glance 2017 2016 2015 2014 2013Gross premiums written bn 49.1 48.9 50.4 48.8 51.1Net earned premiums bn 47

5、.2 47.1 48.3 47.4 49.2Net expenses for claims and benefits bn 41.6 38.5 38.7 39.7 39.9Net operating expenses bn 12.2 12.3 12.4 12.0 12.4Operating result m 1,241 4,025 4,819 4,027 4,398Taxes on income m 298 760 476 312 108Consolidated result m 392 2,581 3,122 3,170 3,333Attributable to non-controllin

6、g interests m 17 1 15 18 29Earnings per share 2.44 16.13 18.73 18.31 18.45Dividend per share 8.60 8.60 8.25 7.75 7.25Dividend payout m 1,290 1,333 1,329 1,293 1,254Share price at 31 December 180.75 179.65 184.55 165.75 160.15Munich Reinsurance Companys market capitalisation at 31 December bn 28.0 28