May 8, 2018 / 5:43 AM / 19 days ago

Munich Re Q1 net profit up 48 pct amid low payouts for major losses

FRANKFURT, May 8 (Reuters) - Munich Re, the world’s largest reinsurer, said on Tuesday that its first-quarter net profit rose 48 percent as it bounces back from a year of record payouts for natural disasters.

Profit rose to 827 million euros ($985.04 million) in the quarter from 557 million during the same period last year.

In April, the company flagged a consolidated first-quarter profit of over 800 million euros after a lower than expected payout for major losses.

$1 = 0.8396 euros Reporting by Tom Sims Editing by Maria Sheahan

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below