March 18, 2020 / 6:44 AM / 14 days ago

BRIEF-Munich Re Doesn’t See Overall Material Coronavirus Effect On Annual Result

March 18 (Reuters) - Munich Re annual report:

* FROM TODAY’S PERSPECTIVE, CO DOES NOT EXPECT CONSEQUENCES OF CORONAVIRUS TO HAVE ANY OVERALL MATERIAL EFFECT ON ANNUAL RESULT - ANNUAL REPORT

* THE MORE VIRUS SPREADS, THE GREATER IMPACT COULD BE ON CO

* IN VERY UNLIKELY SCENARIO OF PANDEMIC EQUIVALENT TO A 200-YEAR EVENT, CO WOULD FACE MAXIMUM OF €1.4BN IN LIFE AND HEALTH INSURANCE CLAIMS

* MAINLY DRIVEN BY INSURANCE OF MAJOR EVENTS, SUCH A SCENARIO COULD ALSO LEAD TO LOSSES IN MEDIUM-TO-HIGH TRIPLE-DIGIT-MILLION EURO RANGE IN PROPERTY-CASUALTY REINSURANCE

* IT DOES NOT CURRENTLY ANTICIPATE GLOBAL RECESSION IN FINANCIAL MARKETS

* IMPACT OF FALLING EQUITY MARKETS WOULD BE PARTIALLY OFFSET BY HEDGING

* IF PANDEMIC WITH AFOREMENTIONED EFFECTS WERE TO OCCUR, MORE FAR-REACHING UPHEAVALS ON CAPITAL MARKETS AND MORE SIGNIFICANT IMPLICATIONS FOR RESULT WOULD BE EXPECTED Annual report (p. 175): bit.ly/3a0LeSu (Berlin Speed Desk)

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