Munich Re: best quarterly earnings in four years

(CercleFinance.com) - On Wednesday Munich Re announced the best quarterly results for the past four years in Q2, with the group confirming its FY 2019 targets in its wake.


This morning the German reinsurer announced Q2 net profit of 993 million euros, compared with 728 million euros in Q2 2018.

Its operating profit also jumped to nearly 1.6 billion euros, against 1 billion euros a year ago, based on gross premiums that are up 5.5% at 11.8 billion euros.

In its press release, the group said it benefited from the absence of major losses relating to natural disasters.

Munich Re took the opportunity to confirm its target for FY 2019 consolidated earnings of around 2.5 billion euros.

The Munich Re share is currently up 1.3% at 212.7 euros on the Frankfurt Stock Exchange, just outperforming the DAX 30 index, which is up 1.1%.


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