Our Shares

Share development

Learn more on the current performance of our shares and bonds. Trading volume, the day's highs and lows, how they compare with important indices or price performance over different periods.

Share profile

First listing	21 March 1888 on the Munich stock exchange. For more information see the history page on our website.
Index listings	Munich Re shares are included in the leading stock exchange indices, e.g. DAX 40, DAX 50 ESG, DJ EURO STOXX 50, DJ EURO STOXX Insurance, MSCI Euro, FTSE EUROTOP 100, DJ Sustainability World.
Securities codes	Reuters Bloomberg WKN ISIN	MUVGn MUV2 843002 DE0008430026
Trading venues	All of the German stock exchanges as well as the Xetra trading system (in Munich and Frankfurt in the regulated market/prime standard).
Type of share	No-par-value registered shares. Each share entitles the holder to one vote.
Paying agent	Deutsche Bank AG
Currency	EUR
Accounting principles	IFRS (since financial statement 1999)
Closing of business year	December, 31 (until December 31, 1998 closing of business year was June, 30)
Sector	Financials
Subsector	Insurance
Domicile Country	Munich Germany
Commercial Register	District Court Munich, No. HRB 42039

Development of share capital

Date	Numer of Shares	Share Capital in EUR
4/26/24	133,760,287	587,725,396.48
12/31/23	136,468,150	587,725,396.48
12/31/22	140,098,931	587,725,396.48
12/31/21	140,098,931	587,725,396.48
12/31/20	140,098,931	587,725,396.48
12/31/19	144,317,861	587,725,396.48
12/31/18	149,538,477	587,725,396.48
12/31/17	155,027,908	587,725,396.48

Historical share capital

Date	Number of Shares	Share Capital in EUR
31.12.2016	161,053,897	587,725,396.48
31.12.2015	166,843,961	587,725,396.48
31.12.2014	172,942,618	587,725,396.48
31.12.2013	179,341,212	587,725,396.48
31.12.2012	179,341,212	587,725,396.48
31.12.2011	179,341,212	587,725,396.48
31.12.2010	188,468,471	587,725,396.48
31.12.2009	197,401,624	587,725,396.48
31.12.2008	206,403,804	587,725,396.48
31.12.2007	217,888,670	587,725,396.48
31.12.2006	229,580,233	587,725,396.48
31.12.2005	229,580,233	587,725,396.48
31.12.2004	229,580,233	587,725,396.48
31.12.2003	229,580,233	587,725,396.48

Shareholder profile

Shareholder structure in % of share capital

Status: 31.12.2023
Free float 100.0%
Number of shareholders 328,000

Status: 31.12.2022
Free float 100.0%
Number of shareholders 325,000

Source: Munich Re Shareholders' Register

Regional breakdown in % of share capital

Status: 31.12.2023

Status: 31.12.2022

Source: Munich Re Shareholders' Register

Development of the shareholder profile since 2009

2023
Free float 100.0%

2022
Free float 100.0%

2021
Free float 100.0%

2020
Free float 100.0%

2019
Free float 100.0%

2018
Free float 100.0%

2017
Core shareholdings 0.0%
Free float 100.0%

2016
Core shareholdings 0.0%
Free float 100.0%

2015
Core shareholdings 0.0%
Free float 100.0%

2014
Core shareholdings 11.6%
Free float 88.4%

2013
Core shareholdings 11.2%
Free float 88.8%

2012
Core shareholdings 11.2%
Free float 88.8%

2011
Core shareholdings 10.2%
Free float 89.8%

2010
Core shareholdings 10.2%
Free float 89.8%

2009
Core shareholdings 0.0%
Free float 100.0%

Source: Munich Re Shareholders' Register

Frequently asked questions

Here you will find a list of frequently asked questions from shareholders and analysts. The questions have been arranged by topic area. If you cannot find a specific question here that you would like to have answered, please notify us. We will reply to your query as soon as possible.

How many shareholders does Munich Re have ?

Munich Re had around 328,000 shareholders at the end of 2023.

What is Munich Re's dividend policy?

The implicit dividend commitment of recent decades is now an explicit target of the Munich Re Group Ambition 2025. In “normal” years, the dividend per share is to rise by ≥5% on average, similarly to the increase in earnings per share. In years with unusually high claims expenditure, it is expected that the dividend per share will at least remain the same.

The dividends are proposed by the Board of Management and based on the financial statement of Münchener Rückversicherungs-AG. The proposed dividend, which is subject to approval by the Supervisory Board and the shareholders, is declared on the day of the AGM.

To see what dividend has been paid out over the past few years, click here.

How are dividends taxed in Germany?

The full dividend income of private investors domiciled in Germany will be paid out less a flat-rate tax of 25% (as well as the solidarity surcharge and, where relevant, church tax), unless tax exemption applies. In order to ensure that the tax-exempt allowances (i.e. investment income from interest, dividends and gains on the sale of securities) of €1,000 for single persons or €2,000 for married couples are taken into account, you should complete an exemption application form and submit it to your bank. Investors liable to taxation in Germany with an average tax rate lower than 25% can choose to include this income in their yearly tax declaration and will be reimbursed any excess tax paid after the relevant tax assessment in the following year.

What do foreign private shareholders have to bear in mind with regard to taxation?

Foreign private shareholders (i.e. persons neither domiciled nor normally resident in Germany) are subject to limited taxation requirements in Germany in connection with certain investment income. This includes dividends from corporations whose management or seat is located in Germany. Taxation on dividends in Germany is covered by the withholding tax on income. Where a Double Taxation Agreement exists between Germany and the country of residence of the foreign shareholder, the withholding tax on income is generally limited to a maximum of 15% of gross dividend. Normally, there is a standard application procedure. Taxation in the shareholder's country of residence on dividends earned in Germany is subject to the fiscal regulations in the country of residence.

When do I have to buy shares at the latest to be entitled to payment of a dividend after the Annual General Meeting?

You are entitled to a dividend on any Munich Re shares which are booked into your deposit on the day of the AGM. As a precaution please contact your bank. Due to a change in corporate law beginning 2017 the payment of the dividend by the company, will normally be effected, the decision of the AGM assumed, three banking days after the AGM.

Is it possible to purchase effective certificates from Munich Re?

In accordance with the resolution adopted by the AGM on 2 July 1999, the Company no longer issues effective certificates; accordingly, there are only very few effective certificates in circulation. The stock exchanges trade exclusively in Munich Re shares through the giro transfer system.

Is it possible to purchase old shares (so-called non-valeurs) from Munich Re?

Unfortunately not. Now virtually all the Munich Re shares are traded on the giro transfer system for securities. As there are practically no historical securities from share certificate exchanges, we unfortunately have no non-valeurs to offer.

What is the average daily trading volume in Munich Re shares?

In 2023 the average daily trading volume was around 297,000 shares.

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