Muenchener Rueckversicherungs Gesellschaft AG in Muenchen (MUVGn.DE)
Thu, Sep 14 2017
BERLIN/FRANKFURT Germany's Munich Re warned it could miss its profit target this year, the first major reinsurer to flag a hit to earnings from damage caused by hurricanes Harvey and Irma.
* Analysts expect further statements from industry (Adds analyst comment, share price)
BERLIN, Sept 13 German reinsurer Munich Re said losses from hurricanes Harvey and Irma could result in it missing its profit target of between 2 billion and 2.4 billion euros ($2.4 bln-$2.9 bln) this year.
MONACO, Sept 10 As Hurricane Irma battered Florida on Sunday, the cream of the insurance world -- gathered under the Mediterranean sun in Monte Carlo -- was assessing the costs of the storm for the global industry.
MONACO Hurricane Irma is proving to be a "major event" for Florida and the insurance industry, Torsten Jeworrek, member of the board of the German reinsurance giant Munich Re , said on Sunday.
* CFO says has reduced long dollar positions due to scepticism about U.S. political developments in short-term Further company coverage:
* CEO says "ambition" is to stabilise profit and gradually increase profit, when asked about 2018 outlook
FRANKFURT, Aug 9 German reinsurance giant Munich Re posted a net profit of 733 million euros ($860 million) in the second quarter and said it was on track to meet its profit target for the year.
FRANKFURT Insurers paid out around $19.5 billion for natural disaster claims in the first half of 2017, almost 40 percent less than the year-earlier payout of $32 billion, reinsurer Munich Re said on Tuesday.
* Flooding in Peru caused $3.1 bln in economic losses (Adds further details on H1 damages, quote)