Meanwhile, insurance revenue for Q3 rose to €15.49 billion, up from €14.46 billion in Q3 2023, due to organic growth in all segments. Munich’s solvency ratio was at 292%, which is above the optimum range of 175% to 220%, while its return on equity (RoE) was 11.7% in Q3, with 20.1% for Q1 to Q3.