Munich Re : Munich Re on track to deliver on targets despite some headwinds in Q1
>Operating profit headwinds in Q1 2019 unlikely to derail Munich Re from meeting our estimates - In Q1 2019 Munich Re’s operating profit of € 875m fell short of consensus (€ 995m) driven by lower-than-expected L/H reinsurance earnings and a higher-than-expected combined ratio at ERGO P/C Germany. Attributable net profit of € 633m, supported by FX effects and a low tax burden, was broadly in line with consensus estimates. We leave our estimates for Munich Re unchanged ...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.