Münchener Rück AG (MUV2) — Tangible Net Worth Ratio
Münchener Rück AG (MUV2) has a Tangible Net Worth Ratio of 96.3% as of September 2025. This metric is calculated by deducting intangible assets (€1.21 Billion) from net assets (€32.41 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See MUV2 net working capital ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Münchener Rück AG Tangible Net Worth Ratio (2003–2024)
This chart shows how Münchener Rück AG's Tangible Net Worth Ratio has changed across 22 annual periods from 2003 to 2024. As of September 2025, the ratio stands at 96.3%, reflecting net assets of €32.41 Billion with intangible assets of €1.21 Billion EUR. See MUV2 defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Münchener Rück AG (2003–2024)
The table below presents the year-by-year Tangible Net Worth Ratio for Münchener Rück AG from 2003 to 2024, covering 22 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Münchener Rück AG market cap and net worth.
| Year | Tangible NW Ratio | Net Assets (EUR) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2024 | 97.3% | €32.74 Billion | €893.00 Million | €286.51 Billion | ▲ +0.7 pp |
| 2023 | 96.5% | €29.77 Billion | €1.03 Billion | €273.79 Billion | ▲ +2.7 pp |
| 2022 | 93.9% | €21.20 Billion | €1.30 Billion | €298.57 Billion | ▼ -2.0 pp |
| 2021 | 95.8% | €30.95 Billion | €1.29 Billion | €312.40 Billion | ▼ -0.1 pp |
| 2020 | 95.9% | €29.99 Billion | €1.22 Billion | €297.95 Billion | ▼ 0.0 pp |
| 2019 | 95.9% | €30.58 Billion | €1.24 Billion | €287.55 Billion | ▲ +0.3 pp |
| 2018 | 95.6% | €26.50 Billion | €1.16 Billion | €270.17 Billion | ▼ -0.5 pp |
| 2017 | 96.1% | €28.20 Billion | €1.11 Billion | €265.72 Billion | ▲ +0.2 pp |
| 2016 | 95.9% | €31.78 Billion | €1.30 Billion | €267.81 Billion | ▼ -0.3 pp |
| 2015 | 96.2% | €30.96 Billion | €1.17 Billion | €276.52 Billion | ▲ +0.2 pp |
| 2014 | 96.0% | €30.30 Billion | €1.22 Billion | €272.98 Billion | ▲ +1.2 pp |
| 2013 | 94.7% | €26.23 Billion | €1.38 Billion | €254.29 Billion | ▲ +0.3 pp |
| 2012 | 94.5% | €27.42 Billion | €1.52 Billion | €258.36 Billion | ▲ +1.2 pp |
| 2011 | 93.2% | €23.31 Billion | €1.58 Billion | €247.58 Billion | ▲ +0.3 pp |
| 2010 | 92.9% | €23.03 Billion | €1.63 Billion | €236.36 Billion | ▲ +0.6 pp |
| 2009 | 92.3% | €22.28 Billion | €1.72 Billion | €223.41 Billion | ▲ +0.7 pp |
| 2008 | 91.6% | €21.26 Billion | €1.79 Billion | €215.42 Billion | ▼ -3.9 pp |
| 2007 | 95.5% | €25.46 Billion | €1.14 Billion | €214.25 Billion | ▼ -0.5 pp |
| 2006 | 96.0% | €26.43 Billion | €1.05 Billion | €215.87 Billion | ▲ +0.2 pp |
| 2005 | 95.8% | €24.65 Billion | €1.04 Billion | €218.18 Billion | ▲ +2.0 pp |
| 2004 | 93.8% | €20.20 Billion | €1.24 Billion | €214.25 Billion | ▲ +0.8 pp |
| 2003 | 93.1% | €19.77 Billion | €1.37 Billion | €208.90 Billion | — |