FRANKFURT (Reuters) -The German reinsurer Munich Re said on Monday that its second-quarter profit was significantly above analyst expectations, helped by low claims for losses. The reinsurer said net
Munich Re Reports Strong Q2 Profit of €2.1 Billion, Exceeding Forecasts
Munich Re's Financial Performance
FRANKFURT (Reuters) -The German reinsurer Munich Re said on Monday that its second-quarter profit was significantly above analyst expectations, helped by low claims for losses.
Q2 Profit Overview
The reinsurer said net profit was around 2.1 billion euros ($2.45 billion) in the second quarter, above a consensus forecast of 1.62 billion euros and 30% above the 1.62 billion it reported a year earlier.
Full-Year Profit Target
Munich Re, which released the preliminary earnings ahead of schedule, said it would stick to its full-year profit target of 6 billion euros.
It will release more details on August 8.
($1 = 0.8556 euros)
(Reporting by Tom Sims and Alexander Huebner, Editing by Rachel More and Tomasz Janowski)
