24 April 2018Insurance

Munich Re Q1 profits up on low major losses

Munich Re expects its profit in the first quarter of 2018 to exceed €800 million due to “randomly low incidence” in major losses, up from €557 million in the same period a year ago.

The main reason for this "good result" is low major-loss expenditure in reinsurance, the company explained in a statement.

The guidance for the 2018 consolidated result remains unchanged at €2.1–2.5 billion.

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More on this story

15 March 2018   Munich Re will cut costs in the reinsurance operations and in the group functions through staff reduction to improve profitability.