Munich Re : Munich Re maintained strong earnings momentum in Q2 2024
>Group net profit of € 1,623m in Q2 24 - Munich Re kept up strong earnings momentum in Q2 2024. Group net profit came to € 1,623m vs € 1,438m consensus and our € 1,279m estimate. H1 2024 net profit stands at € 3,763m covering ~65% of our € 5.8bn net profit estimate for FY 2024e (unchanged guidance to reach more than € 5bn net profit in FY2024). Earnings momentum was particularly strong in L/H reinsurance in the quarter while technical results in P/C reinsurance were s...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.
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