Munich Re: in a spin after FY results

(CercleFinance.com) - The Munich Re share is down 5.
4% in Frankfurt, sanctioned by the market for the publication of Q4 2017 results that fell short of expectations, with net income up 11% at 538 million euros, while the consensus was expecting closer to 600 million euros.

Over the full year, the Bavarian reinsurer posted net profit of 392 million euros, penalised by the losses caused by the hurricanes Harvey, Irma and Maria, while its gross premiums remained almost flat at 49.1 billion euros.

In this context, and despite the fact that the group has an improvement in market conditions, Munich Re has decided to leave its dividend unchanged at 8.60 euros per share, while analysts were hoping for an increase.


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