Munich Re : We increase estimates and TP driven by L/H reinsurance
>Q3 2022 net profit in line with pre-released figure - Munich Re reported Q3 2022 group net profit of € 527m which was in line with the pre-released figure of ~€ 0.5bn and ahead of the consensus loss estimate of € 167m. The deviation to consensus was predominantly driven by a better-than-expected technical result in P/C reinsurance (combined ratio 108.2% and thus 5%-p ahead of consensus estimate, a very strong FX result of € 846m, a positive € 200m one-off at ERGO L/H...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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