7th November 2018

Munich Re on track

In the nine months, Munich Re posted a profit of E2,038m and is thus on track to achieve its profit target of E2.1–2.5bn.
There were high losses in Q3 owing to Typhoon Jebi and Hurricane Florence(around E300m each).
Profit guidance for ERGO has been raised to at least E350m, following a good nine months.
Jörg Schneider, cfo, comments “This good Q3 result puts us on track to achieve our profit target for 2018–despite a series of major natural catastrophes still continuing in the fourth quarter. The benefits of first-class primary insurance and reinsurance cover become apparent in times of climate change and growing economic risks.”There was robust growth in property-casualty reinsurance."

Munich Re Trends(436 articles)