Allianz vs Munich Re (ALV.DE vs MUV2.DE)
Allianz (ALV.DE) vs Munich Re (MUV2.DE) in plain English: P/E, growth, margins, debt and dividend side by side, key differences and which fits each investor profile.
Allianz (ALV.DE) and Munich Re (MUV2.DE) compete in insurance. Here are Allianz and Munich Re side by side with their real figures as of November 4, 2026: what sets them apart, which fits each kind of investor and the most common questions, without telling you whether to buy Allianz or Munich Re.
Allianz vs Munich Re: the figures
| Figure | Allianz | Munich Re |
|---|---|---|
| Share price | €458.40 (November 4, 2026) | €584.40 (November 4, 2026) |
| Market cap | N/A | €73.5 billion |
| P/E (TTM) | 15.0x | 11.0x |
| Forward P/E | 13.9x | 11.3x |
| Revenue growth (quarter) | +12.1% | +1.3% |
| Net margin (TTM) | 9.9% | 11.2% |
| ROE | 19.6% | 21.3% |
| Dividend yield | 3.88% | 4.23% |
| Beta | 0.67 | 0.27 |
Allianz and Munich Re figures from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026; N/A means that Allianz or Munich Re figure is not available, and we never estimate it.
3 key differences between Allianz and Munich Re
- Valuation: Allianz trades at 15.0x its annual earnings and Munich Re at 11.0x; the market pays more for each dollar of Allianz profit, usually because it expects more growth.
- Growth: Allianz grew sales +12.1% year on year in its latest quarter, against +1.3% for Munich Re.
- Volatility: Allianz stock moves more (beta 0.67) than Munich Re (beta 0.27); the higher the beta, the more it amplifies market swings.
Allianz or Munich Re: which fits your profile
- If you want growth: Allianz is growing faster today, so it fits better with investors who put business growth first, usually accepting a higher P/E and a bumpier ride.
- If you want income (dividends): Munich Re pays the higher dividend relative to its price.
- If you prefer caution: Munich Re has a less volatile share price, which usually gives more room in a bad year.
- If price is what matters most to you: Munich Re trades on the lower P/E; check first whether that is an opportunity or a sign of a business that grows less.
Neither Allianz nor Munich Re wins on everything, and owning both is also an option: spreading money across several companies or an index fund reduces what rides on each one.
How Allianz and Munich Re make money
Allianz (ALV.DE)
Allianz runs three businesses: Property-Casualty insurance (auto, home, commercial), its largest by revenue; Life/Health, which includes savings and retirement products; and Asset Management, home to PIMCO and Allianz Global Investors, which earn fees for managing other people's money. It operates across Europe, the Americas and Asia. Full Allianz analysis.
Munich Re (MUV2.DE)
Munich Re is mainly a reinsurer, covering other insurers against large risks. It reports Property-Casualty reinsurance, its largest business, including natural catastrophes and major industrial risks; Life and Health reinsurance; and ERGO, its primary insurance arm serving consumers and businesses in Germany and abroad. Full Munich Re analysis.
Frequently asked questions: Allianz vs Munich Re
Is Allianz or Munich Re the better stock?
Choosing between Allianz and Munich Re depends on what you are looking for. Allianz is growing faster right now, and Munich Re trades on the lower P/E. Fintols does not tell you whether to buy Allianz or Munich Re: it shows you the differences so you can decide.
Which pays a higher dividend, Allianz or Munich Re?
As of November 4, 2026, Munich Re yields 4.23% and Allianz yields 3.88%. Also check how much of their profit Allianz and Munich Re pay out: if it is more than they earn, it cannot last.
Which is more expensive, Allianz or Munich Re?
On P/E, Allianz (15.0x) is more expensive than Munich Re (11.0x) as of November 4, 2026. A higher P/E can be justified if earnings grow faster, so compare it with each company's growth in the table.
Can I own both Allianz and Munich Re?
Yes. Many people spread their money across several companies, such as Allianz and Munich Re, or use index funds so they do not depend on just one. If you are starting out, decide how much you want to invest and for how long before buying Allianz or Munich Re.
More comparisons with Allianz or Munich Re
More companies like Allianz and Munich Re: insurance stocks. Educational content about Allianz and Munich Re, not investment advice.