No Surprises in Munich Re's Fiscal 2017
Munich Re reported net income of EUR 392 million for 2017. The result was heavily affected by large losses, equalling around 26% of net earned premium, 14 points above the expected 12% average. We maintain our EUR 205 per share fair value estimate, along with our no-moat and stable trend ratings.The business is still making progress on the ERGO restructuring programme. This is strongly orientated around investing in digital and cutting costs, which are both being aided by the overall business b...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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