Many thanks again to @Tenbagger2024 for introducing the share. After yesterday's figures, I have now decided to $ORCL (-4,75 %) decided to reduce my exposure to the tech sector somewhat and switch to $MUV2 (+0,12 %) and shift into Good run $AMKR (-6,51 %) and a small amount remains after profit taking.

Munich Re $MUV2 (+0,12 %) intends to steadily increase its profits over the next few years despite crumbling prices in reinsurance and pass most of this on to its shareholders.

The world's second-largest reinsurer has set itself the target of a return on equity of more than 18% by 2030, as it announced in Munich on Wednesday. Previously, the target was 14 to 16 percent, but Munich Re had recently exceeded it. According to "Ambition 2030", earnings per share should increase by an average of more than eight percent per year, whereas the previous target was at least five percent. 80 percent of the profit should be distributed to shareholders via dividends and share buybacks. Most recently, Munich Re had passed on around three quarters.

Munich Re intends to make up for the foreseeable crumbling profits in non-life reinsurance over the next few years with growth in the other three lines. Health reinsurance, the primary insurer Ergo and specialty insurance business are expected to contribute around 60 percent to profits in 2030, as the reinsurer announced. The current figure is around 50 percent. The longstanding trend of rising prices for cover against natural disasters and other major losses is currently threatening to reverse.

The sensible use of saved capital in retirement requires good planning. Especially if you want money to flow out of it regularly to secure or sweeten the third stage of your life.

Financial brokers then like to offer pension insurance based on a single payment, often called an immediate annuity.

With a normal life expectancy, the return is usually not generous because insurers usually invest very conservatively. In addition, the costs and profit margins of the insurance company further reduce the return. Consumer advocates point out that you usually have to live to be 94 years or older before you receive the investment sum back via guaranteed pensions.

It is often more profitable to park the money in a call money account.

Investments with regular distributions are an alternative. Investors are spoiled for choice between several thousand dividend-paying equity funds.

What are the relevant selection criteria? Quality and cost structure.

For some, the level of distributions may also be an important criterion in the selection process. But caution is advised here: For example, the payout ratio of the Global X Super Dividend ETF $SDIP (-0,2 %) is currently over nine percent. With an investment sum of 100,000 euros, this results in a monthly inflow of around 750 euros before tax.

This is possible because the ETF invests stubbornly in the 100 companies with the highest dividends worldwide, but without any consideration of the sustainability of these distributions and the quality of the companies.

This in turn means that, without the dividends, the ETF generated a return of zero over one year and even minus 14% over three years. Investors therefore received high regular payouts, but the investment capital decreased significantly at the same time.

Savers should therefore always pay attention to how the ETF invests. There are various positive counter-examples, such as the Invesco Euro Stoxx High Dividend Low Volatility ETF $EUHD (-0,55 %). Although this also focuses on high-dividend companies, it also selects according to qualitative criteria. Result: Although the payout ratio is currently "only" 5.1% per year, this amounts to around EUR 425 per month before tax for an investment sum of EUR 100,000.

However, the ETF has also achieved growth of almost 36% over the past three years, and including distributions, the gain was even over 60%. There are similarly good ETFs for various other investment regions or sectors.

Bond ETFs, on the other hand, are rarely a real alternative for private investors. Although distribution rates of four or five percent can be achieved, this is ultimately only possible with high-risk bonds or US securities with a corresponding currency risk. In addition, a positive return can rarely be achieved over and above the distribution.

A (possibly riskier) alternative is to invest in individual shares with high dividends. However, quality is even more important here. "We value companies with a strong balance sheet that are characterized by a high equity ratio and above-average returns on capital and sales," says Franz Kaim from Kidron Vermögensverwaltung in Stuttgart.

Continuity is also important. "The so-called dividend aristocrats are the gold standard for income-oriented investors," says Rainer Laborenz, Managing Partner of Azemos Vermögensverwaltung in Offenburg. "Companies that have increased their dividends for at least 25 consecutive years are included in this select group."

There are currently around 150 dividend aristocrats worldwide, 117 of which are from the USA and 33 from the rest of the world. The best-known names include Coca-Cola $KO (+1,67 %)Procter & Gamble $PG (+1,17 %) and Johnson & Johnson $JNJ (+1,28 %) from the USA, Fresenius from Germany $FRE (-0,97 %) and Unilever $ULVR (-0,71 %) from Great Britain.

Other attractive dividend stocks recommended in a WELT survey of ten leading asset managers in Germany include Allianz $ALV (-0,79 %)BASF $BAS (+0,71 %)Beiersdorf $BEI (-0,65 %)Deutsche Post $DHL (+0,05 %) and Munich Re $MUV2 (+0,12 %).

In other European countries, they rely on BAT $BATS (-2,66 %), BP $BP. (-1,12 %), Nestlé $NESN (-0,7 %), NN Group $NN (-0,64 %)Shell $SHEL (-1 %) and Swiss Life $SLHN (+0,14 %).

In the USA, names such as Altria $MO (-0,39 %), Chevron $CVX (-1,24 %)Cisco $CSCO (-2,24 %), Coca-Cola, Kimberly-Clark $KMB (-0,51 %) , McDonald's $MCD (+1,12 %) or Pepsi $PEP (+0,29 %).

Source: Text (excerpt) & table: Welt, 05.12.25

$MUV2 (+0,12 %)

The reinsurer confirmed its profit target for the year as a whole, but is once again becoming more cautious with regard to turnover.

In the third quarter, Munich Re posted a profit of just under 2 billion euros, compared with 907 million euros in the same period last year, when high losses were incurred for natural catastrophes. Analysts had expected 1.93 billion euros in a consensus published by the company itself.

Munich Re continues to expect a net profit of around 6 billion euros for 2025 after 5.7 billion in the previous year. After nine months, the Group earned 5.18 billion euros.

The Group now expects insurance premium income to be around 61 billion euros, roughly on a par with the previous year. Munich Re had recently lowered its forecast to 62 billion euros.

Meanwhile, Munich Re is becoming more confident about the combined ratio in property and casualty reinsurance. The ratio, which compares expenses and income in the insurance business, is now seen at 74% instead of 79%.

Source: Finanzen.net

$MNDY (-2,85 %)
$TSN (+1,01 %)
$OXY (-0,57 %)
$WULF (-9,93 %)
$PLUG (-1 %)
$RKLB (-3,72 %)
$CRWV (-10,71 %)
$9984 (-3,49 %)
$IOS (+1,26 %)
$MUV2 (+0,12 %)
$SE (-1,16 %)
$NBIS (-7,43 %)
$RGTI (-3,71 %)
$$BYND (-8,82 %)
$OKLO
$IFX (-1,76 %)
$EOAN (+1,4 %)
$TME (+0 %)
$VBK (-4,27 %)
$HDD (-0,46 %)
$ONON (-1,65 %)
$JMIA (-4,13 %)
$MRX (-0,97 %)
$HTG (-4,23 %)
$DTE (-0,8 %)
$R3NK (-2,77 %)
$HLAG (-0,72 %)
$JD (-0,3 %)
$700 (+0,26 %)
$DIS (-0,08 %)
$ENEL (+0,14 %)
$AMAT (-4,67 %)
$NU (+0,49 %)
$ALV (-0,79 %)
$SREN (+0,31 %)
$BAVA (-0,61 %)

Same game here.

I have decided to add the German reinsurers to my portfolio. Do you prefer $HNR1 (+0,19 %) (or Talanx $TLX (-0,32 %) ) or $MUV2 (+0,12 %) ?

👋 Introduction & background

Hey everyone!

I'm 33, married and dad to two small children (18 months and 2 months old). I've been working in the automotive industry since 2011 and in management consulting since 2019. ⚙️🚗💼

My wife is an engineer and also works in the automotive industry. 👩‍🔧🚗

I've been with getquin since 2022, but so far I've been reading along rather than actively posting. 👀

My wife is currently on parental leave and receives parental allowance. I will go on parental leave in Q2 2026 (also with parental allowance), then she will start working again. This means that only one of us will receive a full salary until the end of 2026 - but we'll still be sticking to our savings and investment quota. 👶💶

💰 Current status:

A good mid-six-figure amount has already been saved in our custody accounts. 📈

👶 Children & investments

For each child, we invested €10,000 in the Vanguard FTSE All World ($VWRL) (-0,98 %) invested. In addition, each child receives €150 per month in the same ETF - via junior custody accounts at ING. 📊

💍 My wife's investments

She invests monthly:

- 🌎 500 € in the MSCI World ($XDWL) (-1,1 %)

- 💸 500 € in the Vanguard FTSE All World High Dividend ($VHYL) (-0,4 %)

📈 My investment strategy

Long-term, diversified and with a focus on cash flow & wealth accumulation.

🔹Core portfolio (ETF & Bitcoin)

€1,000 flows in every month:

- 💵 €600 in SPDR S&P 500 ($SPY5) (-1,23 %)

- 🌍 €200 in Vaneck Morningstar Developed Markets Dividend Leaders ($TDIV) (-0,33 %)

- ₿ 200 € in Bitcoin ($BTC) (+0,1 %)

🔹 Individual share savings plans (€25/ €600 each)

Target per company: €10,000 investment amount.

Currently participating:

$DB1 (-0,37 %) , $UNP (-0,3 %), $RACE (+0,71 %) , $MRK (+2,09 %) , $MUV2 (+0,12 %) , $DGE (-0,13 %) , $DE (+2,56 %) , $TXN (-1,12 %) , $AWK (+0,54 %) , $ADP (+0,54 %) , $PLD (+0,64 %) , $HEN (-0,11 %) , $ITW (+0 %) , $UNH (+1,45 %) , $LLY (+3,19 %) , $BEI (-0,65 %) , $MCD (+1,12 %) , $DTE (-0,8 %) , $WMT (+2,51 %) , $COST (+0,57 %) , $WM (+2,8 %) , $JPM (+2,21 %) , $BLK (-0,06 %) , $SY1 (-0,06 %)

🔹 Cash reserve

💰 Set aside at least €1,000 every month to be able to strike flexibly when opportunities arise.

🏘️ Real estate strategy

We live in our own home and own a rental apartment that pays for itself. ✅

Further real estate purchases are planned. 🏡📈

🎯 Target (15-20 years)

Financial freedom - with the option of part-time or complete independence from employment. Focus on more time for family, projects and quality of life. ✨

How do you structure your portfolios? What is your strategy and what are your long-term goals?

I look forward to the exchange!

I would like to start a completely new portfolio that will primarily revolve around dividends.

As a core I was thinking of $TDIV (-0,33 %)

Would you say this is a good core?

If not I would add $VHYL (-0,4 %) add.

Additionally I would like to have a CC ETF as a kind of support, probably $JEGP (-0,25 %) and or $SXYD (+0,02 %)

I would like to represent the NASDAQ with $EQQQ (-2,36 %) but I will represent it with $ASML (-3,69 %) and $2330 will be added.

Allianz $ALV (-0,79 %) and Munich Re $MUV2 (+0,12 %) I definitely want to include, but they are too expensive for me financially, so I was thinking of the $EXH5 (-0,76 %)

Oil shares are represented by $VAR (-0,28 %) and one more.

Do you have any recommendations?

I am thinking about $CVX (-1,24 %)
$EQNR (+0,87 %) and $PETR4 (+0,38 %)

I would also like renewable energies, but I'm not familiar with them.

Do you have any suggestions?

Becoming a defensive company $ULVR (-0,71 %)
$D05 (+0,26 %)
$O (+0,92 %) and of course $NOVO B (-0,2 %) Being.

$BATS (-2,66 %) I already have in a portfolio, would it be too much of a lump to add $MO (-0,39 %) to add to it?

I still have $KHC (+0,29 %) on the watchlist but the split is not going so well, would it be wise to start with a savings plan?

Apart from that $RIO (-1,04 %)
$NKE (-0,55 %)
$1211 (-1,03 %)
$SOFI (+0,22 %) and $HAUTO (-1,26 %) will be represented with smaller positions.

What is your opinion?

Would you improve anything?

What else would you add, especially in EE and defensive stocks?

Feedback is very important to me here, so far I have just been wandering aimlessly around the stock market without a fixed plan and strategy.

This is my first attempt to build something serious.

Greetings to all Getquins out there!

The DAX has risen by more than 70 percent since 2021. However, since this financial year, companies' annual dividend payments have only increased by a good five percent. The result of these different speeds is falling dividend yields.

A Handelsblatt analysis shows: Only five companies still offer shareholders a yield of more than three and a half percent based on their most recently paid dividend - in other words, significantly more than can be obtained from banks with overnight money.

This does not include shares in companies with high dividend yields, but where there is a threat of a cut in the payout next spring - as is the case with car manufacturers. BMW $BMW (+0,46 %), Mercedes $MBG (+0,33 %) and VW $VOW (+0,69 %) achieve record-high dividend yields of up to 8.3 percent, but these are worth little due to an expected lower payout in the future.

From today's perspective, investors can be sure that no cuts are imminent for the shares presented below, provided nothing dramatic happens.

Munich Re: More than 20 euros dividend

At 20 euros per share, five euros more than in the previous year, Munich Re distributed $MUV2 (+0,12 %) paid out more than any other DAX company this spring. Analysts are forecasting an average of €21.48 for 2026. Based on the previous distribution, the dividend yield is 3.8 percent.

One of the strongest arguments for buying the share is its reliability. The payout has never fallen since 1969 and has risen eight times in the past ten years.

Eon: Boring, but reliable

Years ago, Eon set itself the $EOAN (+1,4 %) set itself the target of increasing its dividend by five percent annually. This means that the dividend will rise by two cents to 57 cents next spring. This would be the fifth two-cent increase in a row. Based on the previous distribution, the dividend yield is 3.6 percent.

DHL: top yield of 4.8 percent

For 17 years, DHL $DHL (+0,05 %) has not lowered its dividend for 17 years, and this is unlikely to change in 2026. The last cut was in the crisis year 2008, and analysts expect an average of EUR 1.87 per share for next spring. In view of the challenges, particularly in the US business, Handelsblatt only expects the dividend to remain unchanged at EUR 1.85.

Based on the current share price, shareholders will achieve a dividend yield of 4.8 percent if the payout remains the same. None of the shares portrayed here offer that much.

Vonovia: Strong rental business

Analysts expect Vonovia $VNA (+0,23 %) to achieve an average net profit of two billion euros this year.

The dividend is expected to average EUR 1.25, compared to EUR 1.22 last spring. Based on the previous distribution, the dividend yield is 4.6 percent. This is the second highest among the stocks portrayed here.

Rent increases and almost full occupancy of the apartments ensure consistently high profits in the operating business - which was also the case in 2023.

Allianz: High yield with upside potential

Looking at the year as a whole, analysts are forecasting a record net profit for Allianz $ALV (-0,79 %) a record-high net profit of 10.7 billion euros, compared to 9.9 billion euros in the previous year. This means that nothing stands in the way of another dividend increase. The dividend has been increased nine times in the past ten years. The last cut was in the 2008 financial year, when the real estate and financial crisis hit the markets.

Analysts are forecasting an average dividend of EUR 16.74 per share for the 2026 Annual General Meeting. Last year, the dividend was EUR 15.40, which already results in a considerable dividend yield of 4.4%. At 16.74 euros, the yield would be 4.75%.

Around 60 percent of the net profit went to shareholders this spring, which is the international standard for mature large corporations. The share price has doubled in the past three years.

Source: Text (excerpt) & picture Handelsblatt, 16.09.25