Munich Re : Q3 2022 burdened by Nat Cat activity and financial markets volatility
>We cut our net profit estimate for 2022 - Munich Re is due to report its Q3 2022 results on 8 November. We forecast a net loss of € 123m for the quarter triggered by elevated Nat Cat claims and continued headwind from capital market volatility. We cut our 2022e net profit estimate for the group from € 3,076m to € 2,507m (company guidance ~€ 3.3bn) and our target price from € 280 to € 278. Our estimates for 2023e and 2024e remain unchanged as we think the group’s und...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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