Munich Re Expects to Beat 2019 Net Profit Target
October 18 2019 - 5:38AM
Dow Jones News
By Kim Richters
Munich Re AG (MUV2.XE) said Friday that it posted strong
preliminary results in the third quarter, and that it expects to
beat its net profit guidance for the year.
The German reinsurer posted net profit for the period of around
850 million euros ($943.9 million), up from EUR483 million a year
earlier.
The increase was due to "good operational performance, strong
currency gains, and a very good investment result," the company
said.
For the full year, Munich Re expects to beat its consolidated
net profit target of EUR2.5 billion.
The company will release final third-quarter figures on Nov.
7.
Write to Kim Richters at kim.richters@wsj.com
(END) Dow Jones Newswires
October 18, 2019 05:23 ET (09:23 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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