for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Financials

Munich Re posts 42% drop in Q2 net profit amid COVID-related losses

FRANKFURT, Aug 6 (Reuters) - German reinsurance group Munich Re said on Thursday that net profit declined 42% in the second quarter, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period.

The company, which is not providing a full-year profit target given uncertainty around the virus but did slightly raise its outlook for premium income, had already announced preliminary earnings in July.

$1 = 0.8415 euros Reporting by Tom Sims; editing by Thomas Seythal

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up