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Munich Re earnings

Munich Re with solid profit for the quarter, considering high losses

4 mins read

The FINANCIAL — Munich Re published Quarterly Statement. Munich Re generated a profit of around €1bn in the first three quarters of 2020 – despite COVID-19-related losses of €2.3bn In Q3, profits amounted to €199m (COVID-19-related losses in Q3: approx. €800m) Substantial increase in premium income: growth continues ERGO posts good results again In reinsurance, the third quarter is often characterised by above-average losses – and that was again the case this year. On top of manmade major losses and natural catastrophes in the USA, ongoing high COVID-19 claims affected the result. A gratifying aspect is that ERGO once again delivered…

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Munich Re with solid profit for the quarter, considering high losses

4 mins read

The FINANCIAL — Munich Re published Quarterly Statement. Munich Re generated a profit of around €1bn in the first three quarters of 2020 – despite COVID-19-related losses of €2.3bn In Q3, profits amounted to €199m (COVID-19-related losses in Q3: approx. €800m) Substantial increase in premium income: growth continues ERGO posts good results again In reinsurance, the…