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Financials

Munich Re Q1 profit falls 65% with high losses due to coronavirus oubreak

FRANKFURT, May 7 (Reuters) - Munich Re on Thursday said profit fell 65% in the first quarter as it faced losses of around 800 million euros ($863.28 million) due to the coronavirus outbreak.

Profit in the quarter declined to 221 million euros, down from the 633 million euros posted a year earlier. The company warned in March about the drop in profit. ($1 = 0.9267 euros) (Reporting by Tom Sims Editing by Michelle Martin)

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