Munich Re cautious on fresh dividend rise, buybacks
FRANKFURT, March 12
FRANKFURT, March 12 (Reuters) - Munich Re's chief executive urged caution on prospects for further dividend increases and share buybacks, while also not ruling them out.
"Our environment is not easy - I've already mentioned low interest rates - and that's why we tend to be cautious over our capital position even as all sorts of dreams have been awakened not only about dividends but also a buyback of shares," Chief Executive Nikolaus von Bomhard told a news conference.
The world's biggest reinsurer raised its dividend to 7 euros per share for 2012, exceeding consensus for 6.76 euros.