Munich Re eyes 3 bln eur net profit in 2013

MUNICH, March 12 Tue Mar 12, 2013 3:07am EDT

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MUNICH, March 12 (Reuters) - Reinsurer Munich Re is targeting net profit of close to 3 billion euros ($3.9 billion) in 2013, after unusually low damage claims and strong investment gains helped it earn 3.2 billion last year, it said on Tuesday.

The 2013 target is above analysts' average expectation of 2.8 billion euros, according to Thomson Reuters data, and the company said it expected a further rise in net profit in 2014.

The world's biggest reinsurer on Feb. 5 unveiled preliminary earnings for 2012 that beat expectations and said it would raise its dividend to 7 euros per share, exceeding consensus for 6.76 euros. ($1 = 0.7684 euros) (Reporting by Alexander Huebner and Jonathan Gould)


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