May 8, 2019 / 5:49 AM / 17 days ago

Munich Re Q1 net profit down 23 percent on higher claims

MUNICH, May 8 (Reuters) - German reinsurer Munich Re on Wednesday reported a 23 percent decline in net profit in the first quarter as a result of higher claims, but it left its full-year profit guidance unchanged.

Net profit in the quarter was 633 million euros ($709.28 million), above expectations of 613 million euros in a Reuters poll.

That is down from 827 million euros a year ago, a period that was free of major claims. ($1 = 0.8925 euros) (Reporting by Tom Sims Editing by Michelle Martin)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below