Munich Re Q1 Net Profit Jumps 57% as Lower Major Loss Claims Boost Results
Munich Re First Quarter Financial Performance Overview
Strong Net Profit Growth in Q1
FRANKFURT, May 12 (Reuters) - The German reinsurer Munich Re on Tuesday said it posted a 57% rise in net profit in the first quarter, roughly in line with expectations and lifted by low major loss claims. It reaffirmed its targets for the full year.
Quarterly Net Profit Figures
Net profit in the quarter of 1.714 billion euros ($2.01 billion) compares with 1.094 billion euros a year ago. Analysts had expected net profit of 1.729 billion euros.
Currency Exchange Rate
($1 = 0.8508 euros)
Reporting Credits
(Reporting by Tom Sims and Alexander Huebner, editing by Kirsti Knolle)
