Munich Re, one of the world’s leading insurance companies, has posted  a €3.3 billion profit for 2013 (2012: €3.2bn) and announced an increased dividend of €7.25 per share.

CFO Jörg Schneider summed up the preliminary figures:

 "The very good result, to which all the business fields contributed, demonstrates Munich Re's earnings strength. We have clearly surpassed our profit guidance of €3bn."

However, natural catastrophe losses impacted the full year with €764m (1,284m), and man-made major losses with €925m (515m). The two largest losses in 2013 were the floods in central Europe in early summer (€178m) and the intense rain and hailstorms in Germany in June and July (€174m).

Overall claims expenditure for major losses in 2013 totalled €1,689m, while the figure for the fourth quarter was €384m (745m), of which €119m (708m) was for natural catastrophes and €265m (38m) for man-made losses.

In its primary insurance business, Munich Re showed a significantly higher profit of €0.4bn (0.2bn) based on preliminary figures. In  both international and German business, the combined ratio for the year improved, despite the severe flood catastrophe in central Europe in the second quarter and the losses due to intense rain and hailstorms in Germany in the third quarter.