Munich Re Posts €2.1 Billion Profit on ‘Very Low’ Major Losses

pme.ch

Factuality

Ownership

Munich Re, the world's largest reinsurer and rival to Swiss Re, announced on Monday that it had posted a better-than-expected profit in the second quarter, thanks to smaller-than-expected losses in its property reinsurance business.

mainwelle.de

onetz.de

View article

Reposted by

onetz.de

Factuality

Ownership

In the second quarter, the reinsurer Munich Re benefited from a low large liability burden and earned more than expected. The net profit was estimated at around 2.1 billion euros, the company reported in Munich. Analysts had expected an average of around 1.6 billion euros. In addition to low charges in reinsurance (damage/accident), the major losses of the Global Specialty Insurance division were also "significantly" below expectations, as it wa…

Herbert Frommes Versicherungsmonitor

Factuality

Ownership

In the second quarter, the reinsurer Munich Re posted a much higher net profit than expected, as the company's preliminary figures show. Analysts had only expected an average of only EUR 1.6 billion. One reason for the good figures is a very low large damage burden in the core business Property and Accident Reinsurance. Also in the business segment with special insurance, which Munich Re wants to expand, the large damage was "substantially below…

Handelszeitung

Factuality

Ownership

In the second quarter, the reinsurer benefited from a low gross damage burden and earned more than expected.