Despite this, the world's largest reinsurer warned that its forecasts and targets were subject to "considerable uncertainty" due to the fragile economy, volatile markets, the pandemic, and the war in Ukraine.
The quarter's net profit of 768 million euros ($782.90 million) compares to 1.106 billion euros a year ago and exceeds expectations of 719 million euros.
Munich Re announced that it was lowering its target for its investment return this year to more than 2% from more than 2.5 percent.
Its second-quarter investment result fell by half to 971 million euros as a result of net writedowns of 908 million euros attributed to equity market declines.
The reinsurer expects a net profit of 3.3 billion euros for the entire year.