Munich Re Reports Third-Quarter Profit Decline Despite Lower Major Losses
Munich Re said third-quarter net profit fell despite lower-than-expected major losses in its property-and-casualty reinsurance unit. The company previously raised its full-year guidance last month.
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07:19:09 AM UTC
SquawkNews
MUNICH (dpa-AFX) - Munich Re (0KFE.L, MUV2.DE) reported third quarter net result of 1.74 billion euros compared to 2.00 billion euros, a year ago. The operating result decreased to 2.47 billion euros from 3.04 billion euros, last year. The total technical result amounted to 2.38 billion euros compa…
By Adria CalatayudMunich Re reported a decline in third-quarter net profit, despite benefiting from lower-than-expected major losses in its property-and-casualty reinsurance unit.The German reinsurer, which already reported preliminary profit figures and raised its full-year guidance last month, sa…