Munich Re: shares up after result pre-announced

(CercleFinance.com) - Shares in Munich Re are up over 1% in Frankfurt today, after the German reinsurance group said that it forecasts first-quarter earnings of over 800 million euros.


In a brief statement issued after trading yesterday, Munich Re said that it expects a "good" first quarter, with a "high" quarterly profit mainly attributable to a one-off low incidence of major losses.

Its earnings estimate is well ahead of the 631 million euros that Barclays expected for the quarter.

With a consolidated result for the first quarter totalling 557 million euros, Munich Re has also confirmed its 2018 guidance of between 2.1 billion and 2.5 billion euros.

The stock is currently up 1.6% at 199 euros on the XETRA market after these figures were released.

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