February 5, 2015 / 9:40 AM / 3 years ago

Munich Re sees 3 bln net profit in 2015 as 'unrealistic' -CFO

FRANKFURT, Feb 5 (Reuters) - Munich Re is unlikely to reach net profit of 3 billion euros ($3.4 billion) or more in 2015, given headwinds from low interest rates and declining reinsurance prices, its chief financial officer said on Thursday.

“I am confident we will have a very resilient overall profitability but it would be unrealistic to expect - adjusted for everything - again a 3 billion number under these circumstances,” Joerg Schneider told a conference call with analysts.

Earlier on Thursday, the world’s largest reinsurer unveiled net profit of 3.2 billion euros for 2014, down from 3.3 billion the year before.

Munich Re also bumped up its dividend by more than expected, to 7.75 euros per share for 2014 from 7.25 euros for 2013.

Schneider said the company has more capital available than it needs and intends to continue returning it to shareholders.

It did not intend to participate “aggressively” in industry consolidation, following several mergers among competitors, he added. ($1 = 0.8800 euros) (Reporting by Jonathan Gould)

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