| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 17Developing evidence | 100.0% (17/17) | 82.4% (14/17) | +2.5% | +2.6% | -1.5% |
| 20D | 17Developing evidence | 100.0% (17/17) | 35.3% (6/17) | -3.6% | -5.3% | -11.6% |
| 60D | 17Developing evidence | 100.0% (17/17) | 17.6% (3/17) | -6.5% | -8.6% | -13.6% |
| 120D | 17Developing evidence | 100.0% (17/17) | 0.0% (0/17) | -8.0% | -9.7% | -16.9% |
COMPANY RESEARCH
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München
MUV2.DE · Germany · Financial Services · Insurance—Reinsurance
INSIDER SIGNAL
Insider activity score：73.2 / 100
6 insiders · 8 purchase events · €441k net purchases
Europe #33 · Germany #8
WHY THIS SIGNAL?
Score anatomy
Each bar shows the contribution to the current score; the weights and formula stay unchanged.
Cluster+35.0 / 35
How many distinct insiders bought in the cluster
Purchase size+21.1 / 25
Purchase value relative to company size and liquidity
Role+13.0 / 20
The seniority and relevance of participating insiders
Recency+0.2 / 10
How recently the purchases occurred
Conviction+10.0 / 10
How clearly buying stands out from other activity
What is holding the score back?
- ⚠ Insider role contributes less on the current role scale
- ⚠ Purchase activity is becoming less recent
- ✓ Broad buyer cluster · 4+ distinct filers
The role contribution uses the inverted role input of the current European model.
Buying concentration
Not worked out: the scoring window holds no qualifying purchase filing, or the purchases are reported in more than one currency.
This is a ranking under the current European screening rules—not a probability of gain, return forecast, or buy recommendation.
Key purchase quotes (filing currency)
| Filer | Price per unit | Trade date |
|---|---|---|
| Michael Kerner | 597 USD | Aug 20, 2026 |
| Andrew Buchanan | 509 EUR | Aug 7, 2026 |
| Andrew Buchanan | 466.9 EUR | May 13, 2026 |
Model details
Cluster breakdown (does not change the score)
- 15-day buyer breadth (count)
- 5 distinct reported filers
- Peak time window
- 2026-05-12 to 2026-05-18
- Current breadth input
- 1.000 (capped at 4+ buyers)
- Buyer independence
- Not yet measured; related-party fields are not cross-market comparable
What the filings show
- 🟢 Recent eligible purchase
Michael Kerner · 298k USD · Price 597 USD · Aug 20, 2026 - 🟢 PDMR purchase
Andrew Buchanan · 116k EUR · Price 509 EUR · Aug 7, 2026 - 🟢 PDMR purchase
Andrew Buchanan · 149k EUR · Price 466.9 EUR · May 13, 2026 - 🟡 5 remaining qualified transaction line(s) across 5 disclosure(s)
Insider vs stock price
5 purchase day(s), 8 purchase line(s) in the 180-day window.
Daily close (EUR)Day with an insider purchaseTwo or more insiders the same day
Markers sit on the closing price of the transaction day. They show when insiders traded, not the price they paid or received. "Since" compares that day's close with the last close shown; it is what happened at this company, not a forecast.
If you had followed the purchase
Each row starts on the first close on or after the day a purchase was made public, the earliest a reader could have acted, and ends on the last close shown above.
| Made public | Insiders | In this stock, now | In the median peer stock, now | Difference |
|---|---|---|---|---|
| 2026-05-12 | 1 | 1,162 +16.2% | too few peers | — |
| 2026-05-13 | 2 | 1,179 +17.9% | too few peers | — |
| 2026-05-15 | 1 | 1,152 +15.2% | too few peers | — |
| 2026-05-19 | 1 | 1,127 +12.7% | too few peers | — |
| 2026-08-10 | 2 | 1,053 +5.3% | too few peers | — |
| 2026-08-21 | 1 | 1,055 +5.5% | too few peers | — |
Close to close, before costs, taxes, dividends and currency moves. The peer is the median of the other stocks on the same exchange for which this site holds prices (0 here), not an index. This is what happened, not a forecast: across all purchases on this site the typical gap is close to zero.
Insider timeline
5 insiders bought within 7 days, 12 May to 18 May: 5 Management board. 2 of them bought again later. 1 more bought afterwards. The share closed at 468.90 on the first of those days and at 544.80 most recently (+16.2%). That week 211 companies across Europe disclosed insider purchases, an ordinary week (6 of the last 26).
Tap an item for what it means.
●A purchase: the bigger the dot, the more was bought
Each dot is one insider's purchases on one day. The dot's area follows the amount: the largest purchase here gets the largest dot. Hold the pointer over a dot to see the date and the amount. None of this company's filings in the window states an amount, so every dot is the same size.
▮Purple band: several insiders bought within 15 days
The band marks the stretch with the most different buyers: at most 15 days long and at least two people. Here it is 12 May – 18 May, with 5 insiders. Only the strongest stretch is marked. Several people deciding the same thing is harder to explain by one person's private reasons, but insiders often buy together just after a closed period ends, so compare it with the grey weekly bars.
Blue line: this share's price, −4.1% over these six months
The closing price of each day, from 568.00 on 2026-04-21 to 544.80 on 2026-10-15. The line has no scale; read it for high and low: a dot on a low stretch was bought cheaply, a dot on a high stretch was not.
Dashed line: the typical stock on the same exchange, −5.7%
Taken from the 88 other stocks on the same exchange that this site holds prices for. Each is measured from the first day of the window, and every day the middle one is drawn. It starts where the blue line starts, so the gap between the two is the difference: this share −4.1%, the typical one −5.7%, 1.6 points ahead. It is not an index and not a comparison within one industry.
▂Grey bars: companies across Europe disclosing purchases each week
A taller bar is a week in which more companies disclosed insider purchases. The purple bar is the week of the band above: 211 companies, number 6 of the last 26 weeks. If that week was a peak anyway, buying together is less special than it looks.
This company: insiders buying per month, last 12 months
2Nov
Dec
2Jan
1Feb
1Mar
Apr
5May
Jun
Jul
3Aug
Sep
Oct
Darker bars are inside the 180-day window above.
Who traded
| Insider | Role | Purchases | Sales | Bought | First purchase | Share price since | Earlier purchases |
|---|---|---|---|---|---|---|---|
| Achim Kassow | Management board | 1 | — | — | 2026-05-12 | +16.2% | fewer than 5 completed |
| Markus Rieß | Management board | 1 | — | — | 2026-05-12 | +16.2% | fewer than 5 completed |
| Stefan Golling | Management board | 1 | — | — | 2026-05-12 | +16.2% | fewer than 5 completed |
| Andrew Buchanan | Management board | 2 | — | — | 2026-05-13 | +17.9% | fewer than 5 completed |
| Mari-Lizette Malherbe | Management board | 2 | — | — | 2026-05-18 | +12.6% | 8 completed, median −3.1% against peers after 60 sessions |
| Michael Kerner | Management board | 1 | — | — | 2026-08-20 | +6.2% | fewer than 5 completed |
Why this score? · Model details
Priority = 100 × Σ(fixed weight × 0–1 rule-based input)
| Factor | Weight | This company input | Point contribution |
|---|---|---|---|
| 15-day buyer breadth (count) | 35% | 1.000 | 35.0 |
| Qualified-buy size | 25% | 0.843 | 21.1 |
| Role informativeness (inverted) | 20% | 0.350 | 7.0 |
| Recency | 10% | 0.018 | 0.2 |
| Buy/sell conviction | 10% | 1.000 | 10.0 |
This is a heuristic ordering under the current rules, not a calibrated return forecast. It explains why candidates rank differently; the public-filing evidence and data limits are shown below.
BULL VS BEAR
Two readings of this buying
The same filings, read two ways. Each line is a fact stored for this company with the number behind it, and appears only when that number crosses a fixed threshold. Neither side is a forecast and no winner is declared.
Since 2026-10-13, neither column has changed. All bull and bear lists, and what followed each line in the past →
Where the evidence comes from
Independent evidence does not object: the purchases themselves carry bull lines (several insiders together); share price and trading, short sellers, company results were checked and none crosses a bear threshold. No data is held for: company actions.
- The insider purchases themselvesBullseveral insiders together Bearsmall purchases, buyer's past purchases trailed the benchmark3 checked, under the threshold · 2 missing
- Share price and trading3 checked, under the threshold
- Short sellers1 checked, under the threshold
- Company results1 checked, under the threshold · 1 missing
- Company actionsno data held
Bull case · the buying is informative
- 5 insiders bought within 15 days (2026-05-12 to 2026-05-18). Several people reaching the same decision at the same time is hard to put down to one person's circumstances.Record: after 5,401 earlier disclosures like this, the median 60-session excess return was −3.3%, within 1 percentage point of all comparable disclosures (−3.3%).
Bear case · discount it
- Net purchases of €441k are <0.01% of the company's market value (€64.7bn): a visible sum, a small one against the business.
- The 8 earlier purchases by Mari-Lizette Malherbe trailed DAX by a median 3.1% over the following 60 trading days.
Evidence still missing
- Only one reading of profitability is held (profit margin 11%). Whether earnings and cash flow are rising or falling needs the last two reports side by side.
- European notifications have no field saying whether a purchase was pre-arranged; there is no counterpart to the US 10b5-1 box. None of the 8 purchase lines mentions a plan, but a bare “Kauf” does not rule one out.
- The filings give the size of each trade, not what the buyer already held. Whether a purchase added 1% to a personal stake or doubled it is not known.
Checked and under the threshold: 8
- Either6 insiders bought in the last 180 days and 4 in the 180 days before. Bull when the number at least doubles and rises by two; bear when at least two bought before and no more buy now.
- BearNo insider sale is recorded in the same 180 days.
- EitherThe latest purchase is 58 days old. Bull up to 14 days, bear from 90.
- BearThe share price changed −4.1% over six months (three months +5.5%, one month +6.5%) and stands 5.4% below its 52-week high. Counted for the bear side from a fall of 20%.
- BearOver three months the share price changed +5.5% and the median of 268 Financial Services companies changed −0.35%: ahead by 6 points. Counted for the bear side from 20 points behind.
- BearPublished net short positions total 0.38% of the share capital. Counted for the bear side from 2%. On 2026-10-02 it was 0.39%: down 0.01 points since.
- BearProfit margin on the latest captured figures is 11%. Counted for the bear side when negative.
- BearAbout €140.6M of the stock changes hands on an average day. Counted for the bear side below €500k.
Both columns arrange stored facts only. They do not change the insider score or the ranking and are not investment advice.
Signal history
73.2 / 100
Latest recorded score
↓ -1.6 ptsversus the comparable snapshot on 2026-09-14 (34 calendar days apart)
- Recorded snapshots
- 35
- First snapshot
- 2026-08-26
Only scores captured when the scoring run completed are compared. These are raw signal scores saved when each full scoring run completed. They describe changes in research ranking, not price performance or returns.
Why did it change?
Decomposition across the five score factors between comparable snapshots; historical scores are not recalculated.
- Recency-1.6 pts
Signal score history
Fixed 0–100 scale; dates are spaced by calendar time.
Recent recorded points
- 73.3
- 76.2
- 73.7
- 73.4
- 73.2
View all recorded scores
| Snapshot date | Signal score |
|---|---|
| 2026-08-26 | 73.3 |
| 2026-08-27 | 73.3 |
| 2026-08-28 | 79.1 |
| 2026-08-31 | 78.0 |
| 2026-09-01 | 77.7 |
| 2026-09-02 | 77.4 |
| 2026-09-03 | 77.1 |
| 2026-09-04 | 76.9 |
| 2026-09-07 | 76.2 |
| 2026-09-08 | 75.7 |
| 2026-09-09 | 75.6 |
| 2026-09-10 | 75.4 |
| 2026-09-11 | 75.2 |
| 2026-09-14 | 74.8 |
| 2026-09-23 | 74.0 |
| 2026-09-24 | 73.9 |
| 2026-09-25 | 73.9 |
| 2026-09-28 | 73.7 |
| 2026-09-29 | 73.7 |
| 2026-09-30 | 73.6 |
| 2026-10-01 | 73.6 |
| 2026-10-02 | 73.6 |
| 2026-10-03 | 73.6 |
| 2026-10-04 | 73.6 |
| 2026-10-05 | 73.5 |
| 2026-10-06 | 73.4 |
| 2026-10-07 | 73.4 |
| 2026-10-08 | 73.4 |
| 2026-10-09 | 73.4 |
| 2026-10-12 | 73.3 |
| 2026-10-13 | 73.3 |
| 2026-10-14 | 73.3 |
| 2026-10-15 | 73.3 |
| 2026-10-16 | 73.3 |
| 2026-10-18 | 73.2 |
Sector context
- Buying breadth
- 8.4% (55 / 655 issuers)
- Sector rank
- #6 / 12
- 7D breadth change
- +0.3 pp · vs 2026-10-12 (6d)
- 30D breadth change
- History building
This is sector-level research context. It does not affect the Insider Signal or ranking.
Insider profile outcomes
Historical performance following insider filings. The company role is translated below each name while preserving the original title.
- Excess return = stock return − DAX return over the same period.
- Hit rate = completed events with positive excess return ÷ total completed events.
- Price coverage = valid point-in-time prices ÷ events mature enough for that period.
- Returns start on the first shared trading session on or after publication.
- Small-sample rule: n<5 is shown for transparency and is not scored.
Events are disclosure-level observations; related disclosures published on the same date may share a return path and may not be statistically independent. This research enrichment does not affect the insider score or ranking.
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 9Developing evidence | 100.0% (9/9) | 44.4% (4/9) | -0.1% | +0.2% | -5.3% |
| 20D | 9Developing evidence | 100.0% (9/9) | 66.7% (6/9) | +0.4% | -0.2% | -5.1% |
| 60D | 8Developing evidence | 100.0% (8/8) | 25.0% (2/8) | -3.1% | -2.1% | -14.0% |
| 120D | 7Developing evidence | 100.0% (7/7) | 42.9% (3/7) | -4.4% | -3.8% | -15.5% |
| Period | Completed events | Price coverage | Hit rate | Median excess return | Average excess return | Worst excess return |
|---|---|---|---|---|---|---|
| 5D | 3Small sample | 100.0% (3/3) | 0.0% (0/3) | -0.2% | -1.7% | -4.8% |
| 20D | 3Small sample | 100.0% (3/3) | 66.7% (2/3) | +0.4% | -0.0% | -5.8% |
| 60D | 2Small sample | 100.0% (2/2) | 0.0% (0/2) | -8.0% | -8.0% | -15.1% |
| 120D | 1Small sample | 100.0% (1/1) | 0.0% (0/1) | -8.0% | -8.0% | -8.0% |
Market context
PRICE PERFORMANCE
VOLATILITY & LIQUIDITY
- Volatility
- 22.6%
- Beta
- 0.33
- Avg daily volume
- €150.8M
VALUATION
- Market cap
- €64.7B
- P/E
- 9.6×
FUNDAMENTALS
- Profit margin
- 11.2%
- ROE
- 21.3%
- Industry
- Insurance - Reinsurance
Prices to 15 Oct 2026: price cache (EODHD). From OpenBB/yfinance, captured 13 Oct 2026: Market cap, P/E, Profit margin, ROE, Beta, Industry. It does not affect the insider score or rank.
Disclosed net short positions
- Aggregate net short
- 0.38%
- Latest position date
- 13 Oct 2026
The FCA publishes one aggregate figure per issuer, the sum of all positions notified to it, and does not name the holders. Source: FCA · read 18 Oct 2026
Short-position disclosures are external context; they do not affect the insider score, ranking, or filing eligibility.
Insiders' buying price vs the latest close
Insiders paid 508.64 EUR a share on average (13 purchase lines, 7 buyers, 2025-11-11 – 2026-08-07). The close on 2026-10-15 was 7.1% above that price.
The latest purchase (2026-08-07) was at 509.00 EUR; the close was 7.0% above that price.
Prices paid are weighted by shares and taken from the filings; dividends are not counted. Not scored. 1 more purchase line could not be compared with the share price and is left out.
Buying size vs market trading
0.00% · of estimated traded value in the same period
2026-09-18 – 2026-10-15 · 20 recorded trading sessions
- Disclosed qualifying purchases
- 0 EUR
- Estimated market traded value
- 2,811,074,191 EUR
Market-data coverage: 513 verified sessions · Latest session: 2026-10-15 · Ratio status: Available
Recent and largest purchase events / preceding 60-session ADTV
- Aug 20 · Michael Kerner · Vorstand b) Erstmeldung298,500 USD · —Purchase and market currencies differ; ratio withheld.
- Aug 07 · Andrew Buchanan · Vorstand b) Erstmeldung116,052 EUR · 0.07%156,185,119 EUR ADTV
- Aug 07 · Mari-Lizette Malherbe · Vorstand b) Erstmeldung16,288 EUR · 0.01%156,185,119 EUR ADTV
- May 18 · Mari-Lizette Malherbe · Vorstand b) Erstmeldung15,322 EUR · <0.01%173,246,760 EUR ADTV
- May 13 · Andrew Buchanan · Vorstand b) Erstmeldung149,408 EUR · 0.09%167,964,802 EUR ADTV
- May 12 · Achim Kassow · Vorstand b) Erstmeldung112,330 EUR · 0.07%161,572,216 EUR ADTV
- May 12 · Markus Rieß · Vorstand b) Erstmeldung14,772 EUR · <0.01%161,572,216 EUR ADTV
- May 12 · Stefan Golling · Vorstand b) Erstmeldung16,656 EUR · 0.01%161,572,216 EUR ADTV
Traded value is estimated as close × shares traded, in major currency units. Includes disclosed qualifying purchases; disclosures may lag. Contractual or planned acquisitions are not necessarily discretionary. Ratios describe relative trading size, not market participation or score contributions.
Latest news
News capture status: ok. Articles were retained for audit but none met the reader threshold.
Regulatory filings
- Insider filing announcement · published 2026-08-21 · trade date 2026-08-20
- Insider filing announcement · published 2026-08-10 · trade date 2026-08-07
- Insider filing announcement · published 2026-08-10 · trade date 2026-08-07
Unfold all 15 filings
- Insider filing announcement · published 2026-08-21 · trade date 2026-08-20
- Insider filing announcement · published 2026-08-10 · trade date 2026-08-07
- Insider filing announcement · published 2026-08-10 · trade date 2026-08-07
- Insider filing announcement · published 2026-05-19 · trade date 2026-05-18
- Insider filing announcement · published 2026-05-15 · trade date 2026-05-13
- Insider filing announcement · published 2026-05-13 · trade date 2026-05-12
- Insider filing announcement · published 2026-05-13 · trade date 2026-05-12
- Insider filing announcement · published 2026-05-12 · trade date 2026-05-12
- Insider filing announcement · published 2026-03-12 · trade date 2026-03-11
- Insider filing announcement · published 2026-03-02 · trade date 2026-02-27
- Insider filing announcement · published 2026-01-22 · trade date 2026-01-21
- Insider filing announcement · published 2026-01-21 · trade date 2026-01-20
- Insider filing announcement · published 2026-01-13 · trade date 2026-01-12
- Insider filing announcement · published 2025-11-12 · trade date 2025-11-11
- Insider filing announcement · published 2025-11-12 · trade date 2025-11-11
Filing evidence
These are underlying national-feed records from the 365-day window ending on the saved ranking snapshot. The score uses only the latest 180 days; older qualifying equity purchases remain visible for audit but do not enter the current score. The original filer, role, transaction classification, instrument, price, volume, value and source fields are retained. The first three rows are shown; remaining records can be unfolded for audit. Other transaction types are retained but excluded from the score.
Excluded transactions & classification
14 qualifying purchase disclosure(s) · 14 transaction line(s)
Aug 20, 2026Kauf, abgewickelt über Gemeinschaftsdepot mit Ehefrau.
Michael Kerner · Vorstand b) Erstmeldung
Aktie · 500 shares × 597,00 USD · 298.500,00 USD
Open filingAug 7, 2026Kauf
Mari-Lizette Malherbe · Vorstand b) Erstmeldung
Aktie · 32 shares × 509,00 EUR · 16.288,00 EUR
Open filingAug 7, 2026Kauf
Andrew Buchanan · Vorstand b) Erstmeldung
Aktie · 228 shares × 509,00 EUR · 116.052,00 EUR
Open filingUnfold all 11 remaining filing row(s)
| Transaction date | Published | Filer | Role | Transaction | Instrument | Price (local currency) | Quote currency | Volume | Reported value (local currency) | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| 2026-05-18 | 2026-05-19 | Mari-Lizette Malherbe | Vorstand b) Erstmeldung | Kauf | Aktie | 478,80 EUR | EUR | 32 | 15.321,60 EUR | Open filing |
| 2026-05-13 | 2026-05-15 | Andrew Buchanan | Vorstand b) Erstmeldung | Kauf | Aktie | 466,90 EUR | EUR | 320 | 149.408,00 EUR | Open filing |
| 2026-05-12 | 2026-05-13 | Achim Kassow | Vorstand b) Erstmeldung | Kauf | Aktie | 470,00 EUR | EUR | 239 | 112.330,00 EUR | Open filing |
| 2026-05-12 | 2026-05-13 | Stefan Golling | Vorstand b) Erstmeldung | Kauf | Aktie | 475,90 EUR | EUR | 35 | 16.656,50 EUR | Open filing |
| 2026-05-12 | 2026-05-12 | Markus Rieß | Vorstand b) Erstmeldung | Kauf | Aktie | 476,50 EUR | EUR | 31 | 14.771,50 EUR | Open filing |
| 2026-03-11 | 2026-03-12 | Mari-Lizette Malherbe | Vorstand b) Erstmeldung | Kauf | Aktie | 528,60 EUR | EUR | 142 | 75.061,20 EUR | Open filing |
| 2026-02-27 | 2026-03-02 | Andrew Buchanan | Vorstand b) Erstmeldung | Kauf | Aktie | 550,4000 EUR | EUR | 189 | 104.025,60 EUR | Open filing |
| 2026-01-20 | 2026-01-21 | Mari-Lizette Malherbe | Vorstand b) Erstmeldung | Kauf | Aktie | 520,40 EUR | EUR | 142 | 73.896,80 EUR | Open filing |
| 2026-01-12 | 2026-01-13 | Julia Christiane Jäkel-Wickert | Aufsichtsrat b) Erstmeldung | Kauf | Aktie | 526,80 EUR | EUR | 95 | 50.046,00 EUR | Open filing |
| 2025-11-11 | 2025-11-12 | Christoph Jurecka | Vorstand b) Erstmeldung | Kauf | Aktie | 542,60 EUR | EUR | 50 | 27.130,00 EUR | Open filing |
| 2025-11-11 | 2025-11-12 | Mari-Lizette Malherbe | Vorstand b) Erstmeldung | Kauf | Aktie | 535,00 EUR | EUR | 371 | 198.485,00 EUR | Open filing |
Showing 14 of 14 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Other disclosed transactions · excluded from score
View 1 other transaction(s)
Jan 21, 2026Verkauf
Nathalie Haidegger-Rieß · Vorstand b) Erstmeldung
Aktie · 100 shares × 520,80 EUR · 52.080,00 EUR
Open filingShowing 1 of 1 matching raw-feed row(s) from the current 365-day research window. Prices and reported values remain in the filing currency and its major unit (for example, UK pence are parsed as GBP). The screen-level € aggregate is separately FX-normalised for research ranking, not a trade-date conversion.
Snapshot & identity
- Snapshot date
- 2026-10-18
- Ticker
- MUV2.DE
- ISIN
- DE0008430026
- Sector
- Financial Services
- Industry
- Insurance—Reinsurance
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