Munich Re Reports No Significant Surprises in Nine-Month 2016 Results
Munich Re reported nine-month and third-quarter results. Primary insurance division ERGO continues to be a drag on profits. We maintain our fair value estimate of EUR 163.00 and no-moat rating.Reinsurance Life reported a 5% decline in nine month premium largely due to renewal of a large treaty at reduced volume. However, the technical result of the life division was strong with an absence of large losses and some positive risk experience. North America and Europe reported good results and despi...
Muenchener Rueckversicherungs-Gesellschaft is engaged in reinsurance, primary insurance and asset management. Co.'s international life business is written in the Life Division. The Global Clients and North America division manages accounts with international insurance groups. The Europe and Latin America division manages property-casualty business in Europe, Latin America and the Caribbean. The Germany, Asia Pacific and Africa division conducts property-casualty business in Germany, Africa, Asia, Australia and the Pacific Islands. The Special and Financial Risks division manages the classes of credit, aviation and space, agriculture, enterprise and contingency risks.
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