Munich Re Raises Annual Profit Forecast
German reinsurer Munich Re raised its full-year profit guidance to 6.6 billion euros following a stronger-than-expected third-quarter net profit of 1.7 billion euros. The robust performance was driven by lower major loss claims and a strong investment result.
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MUENCHENER RUECKVER AG-REG posted a third-quarter net profit of €1.7 billion ($1.9 billion), beating the €1.479 billion analyst consensus. The Germany-based reinsurer raised its full-year profit guidance to €6.6 billion ($7.4 billion) from €6.3 billion. The earnings beat underscores stronger underwriting margins and robust portfolio returns across European insurance markets.
