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Munich Re releases Q2 result forecast

Munich Re releases Q2 result forecast | Insurance Business

Munich Re releases Q2 result forecast

Munich Re is yet to release its latest financial results… but if its approximation is close to the actual figures, then it looks like positive news is on the way for the major reinsurer.

In a brief statement, the German group noted: “Although work on the Munich Re half-year financial report is still ongoing, it is expected that there will be a consolidated result in the order of approximately €1 billion (around £898 million) for the second quarter.

“This is mainly attributable to low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years.”

As for its target for the 2019 consolidated result, Munich Re said the number remains unchanged at €2.5 billion (around £2.2 billion) given the usual uncertainty concerning developments in major losses and the capital markets during the rest of the year.