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Munich Re upbeat about financials

Munich Re upbeat about financials | Insurance Business

Munich Re upbeat about financials

Approximately €850 million – that’s the consolidated result generated by Munich Re in the third quarter of 2019, and full-year prospects are looking good.

The third quarter showing, which the major reinsurer described as “strong,” was attributed to good operational performance and a very good investment result. Strong currency gains were also to thank.

In addition, the Q3 amount was reached despite Munich Re’s high major-loss expenditure.

In a statement, the company said: “Munich Re expects to beat its target for the consolidated result of €2.5 billion for 2019, despite typically considerable uncertainties about developments in major losses and the capital markets during the rest of the year.

“As always, the figures are subject to the outcome of the ongoing quarterly closing, and will be published by Munich Re as planned on November 07, 2019.”