Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGF) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München $413, price $571, upside -27.7%, quality 49 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? No
- Good quality? No
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Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
MURGF · USWeak valuationQuality is weak on top of the rich price.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range $170.61 – $655.08 · fair‑value band $321.46 – $556.16 · the $570.67 price screens above the $412.66 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Company profile
Münchener Rückversicherungs-Gesellschaft in München engages in the insurance and reinsurance businesses worldwide. The company operates through six segments: Life and Health Reinsurance, Property-Casualty Reinsurance, Global Specialty Insurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International.
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Münchener Rückversicherungs-Gesellschaft in München engages in the insurance and reinsurance businesses worldwide. The company operates through six segments: Life and Health Reinsurance, Property-Casualty Reinsurance, Global Specialty Insurance, ERGO Life and Health Germany, ERGO Property-Casualty Germany, and ERGO International. The company offers life and health reinsurance solutions, such as digital underwriting and advanced analytics solutions, health insurance management system, financial market risks, financing, portfolio risk management, digitalized investment-linked solution, data analytics, underwriting and claims, medical research, capital management, and health market, as well as MIRA digital suite that includes MIRA PoS, MIRApply insured and physician, claims risk assessment, and CLARA plus. It also provides property and casualty reinsurance solutions, including agricultural reinsurance; business advisory, personal lines, portfolio management, insurance consulting, commercial motor consulting; infrastructure risk; property insurance, location risk, insurance linked securities, and NatCatSERVICE for natural catastrophe loss database; prospective structured and retroactive reinsurance; risk transfer; cyber; and data analytics, REALYTIX ZERO, and cert2go. In addition, the company offers solutions for industry clients, such as corporate risk, new tech, green tech, parametric, and aviation and space solutions, as well as risk services. Further, it provides specialty property casualty insurance, such as professional liability, marine, cyber, aviation, and space for commercial and private customers. Additionally, the company offers life, property-casualty, health, legal protection, and travel insurance products under the ERGO brand; and insurance solutions for agriculture, captive, epidemic, cyber, and renewable energy sectors. The company was founded in 1880 and is based in Munich, Germany.
Stock analysis
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München (MURGF) currently trades at $570.67, while our model-based Fair Value estimate is $412.66, implying the stock looks roughly 38.3% overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of $397.71 per share, and 1 of the 6 models we run sit above the $570.67 price.
Bear case: the Asset-Based group reads lowest at $174.02, and 5 of the 6 models stay below the price. Evidence for this calculation is high.
Scenario range: $321.46 (bear) to $556.16 (bull), the price of $570.67 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 49/100 (below-average quality), in the Financial Services sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München reported revenue of €69.3B in FY2025 versus €63.9B in FY2021, a compound +2.1%/yr. Reported net income was €6.1B in FY2025, compounding +20.2%/yr from FY2021.
Key figures
Market cap $87.0B · P/E ratio 9.4 · P/S ratio 0.83 · EPS (TTM) $60.61 · Dividend yield 4.2% · Net margin 8.8% · Return on equity 19.9% · Return on assets (EBIT) 2.6%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 67 out of 100 (medium confidence).
What moves the price
The share trades about 9% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Financial Services peers we cover trades at 24% fair-value upside, at −28%, MURGF screens richer than that median.
Fair Value models
All 6 models by family
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Set up alert →Quality Score breakdown
Of which business quality 37 · Market factors (momentum, volatility) 53
Revenue & earnings trend
Growth Forecast
MURGF screens 38% overvalued. Compare with MUV2 →
Compare Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München with another stock
Price, fair value, quality and upside side by side.
Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Insurance - Reinsurance · 28 stocks
Valuation Multiplesvs Insurance - Reinsurance median · lower = cheaper
Strength profile in five axes (Snowflake)
VALUE 0: the price sits above our fair-value range.
Context: sector, industry, market
- Is the Financials sector expensive or cheap?
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: US Stocks
- Valuation of the USA market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Reinsurance stocks, each showing price versus our Fair Value estimate.
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| MUV2 MUV2 | €501.80 | €433.82 | −14% |
| Swiss Re AG SREN | CHF 138.55 | CHF 123.74 | −11% |
| Hannover Rück SE HNR1 | €252.60 | €207.39 | −18% |
| Reinsurance Group RGA | $245.82 | $198.02 | −19% |
| Everest Group EG | $370.96 | $410.85 | +11% |
| RenaissanceRe Holdings RNR | $325.90 | $563.91 | +73% |
| General Insurance Corporation GICRE | ₹344.15 | ₹427.20 | +24% |
| SCOR SE SCR | €32.16 | €39.93 | +24% |
| China Reinsurance (Group) Corporation 1508 | HK$1.21 | HK$2.42 | +100% |
| Hamilton Insurance Group HG | $33.74 | $52.40 | +55% |
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Key figures of Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
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