Munich Re Sees 2Q Profit of About EUR1 Billion
18 Juli 2019 - 06:31PM
Dow Jones News
By Max Bernhard
Munich Re AG (MUV2.XE) said Thursday that it expects to report a
second-quarter profit of about 1 billion euros ($1.12 billion),
citing low major-loss expenditure and high reserve releases for
basic losses in reinsurance from prior years.
"Due to the usual uncertainty concerning developments in major
losses and the capital markets during the rest of the year, the
target for the 2019 consolidated result remains unchanged at EUR2.5
billion," the German reinsurance company said.
Munich Re is scheduled to report final second-quarter results on
August 7.
Write to Max Bernhard at max.bernhard@dowjones.com;
@mxbernhard
(END) Dow Jones Newswires
July 18, 2019 12:16 ET (16:16 GMT)
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