Munich Re : Confirmation of solid results despite COVID-19
>Solid net profit despite a COVID charge of € 1.5bn in H1 - Yesterday morning, Munich Re published its detailed Q2 2020 results. Note that it had already reported a preliminary net income of around € 600m for Q2 with a COVID-related charge of around € 700m. Net profit came to € 579m (-42%) in Q2, much higher than initial estimates (consensus € 405m, our estimate € 243m). This result includes a € 700m total COVID charge with: 1/ a charge of € 600m in P&C reinsurance (M...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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