Munich Re reports rise in net profit, lifts full-year target for gross premiums
By Giulia Petroni Munich Re AG said Tuesday that net profit rose in the second quarter and raised its full-year target for gross premiums.
The German reinsurance company posted a quarterly net profit of 1.1 billion euros compared with EUR579 million a year earlier, as announced last month. Operating profit was EUR1.55 billion, up from EUR755 million the year prior, while gross premiums written came to EUR14.64 billion compared with EUR12.83 billion.Munich Re raised its gross premium forecasts for the full year, and said it now expect gross premiums of EUR58 billion, comprising EUR40 billion for reinsurance and EUR18 billion for the ERGO insurance business.
The company reiterated that it is on track to reach its net-profit target of EUR2.8 billion in the full year, but said it may not be able to meet its sub-target of EUR400 million in profit at its life and health reinsurance business. The company said it expects overall claims expenditure for reinsurance and ERGO to be in the mid-three-digit-million-euro range in relation to severe weather events and flooding in various regions of Europe.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Dolly Parton’s Net Worth Revealed: The Staggering Success Of America’s Country Music QueenWhile she may be best known for her country crooning, her investment in Dollywood has helped her become one of the richest musicians in the world.
Weiterlesen »
Dolly Parton’s Net Worth Revealed: The Staggering Success Of America’s Country Music QueenWhile she may be best known for her country crooning, her investment in Dollywood has helped her become one of the richest musicians in the world.
Weiterlesen »
Fenty’s Fortune: Rihanna Is Now Officially A BillionaireHow the singer became the richest female musician on the planet. Hint: It wasn’t from performing.
Weiterlesen »
Japan's SoftBank reports 39% fall in Q1 net profitJapan's SoftBank Group Corp (9984.T) on Tuesday reported a 39% fall in first-quarter net profit, even as Vision Fund returns were boosted by listings during the period.
Weiterlesen »
Cindy Crawford’s Net Worth Revealed: How The Original Beauty Influencer Became The World’s Richest SupermodelI cover the intersection of Hollywood and money—that's everything from media moguls to the highest-paid actors to YouTube stars. When my reporting isn't taking me to Hollywood restaurants and Atlanta's movie lots, I'm writing about the world's richest, including billionaires and self-made women entrepreneurs. Prior to Forbes, I wrote about media, food and education for the New York Observer, and about the New York shopping scene for Racked. Follow me on Twitter MadelinePBerg. Have tips? Send them to me anonymously at forbes.com/tips, and submit sensitive documents anonymously and securely at SafeSource.forbes.com.
Weiterlesen »