Munich Re : COVID charge still high
>Net result of € 199m for Q3 2020 - Yesterday, Munich Re published its Q3 2020 earnings. Note that the group had already communicated on its preliminary net result of around € 200m, with COVID claims of € 800m over the quarter. The net result was € 199m (-77.4%), in line with forecasts (our forecast was € 200m, consensus of € 195m and consensus before the publication of € 221m), with net profit of € 63m in reinsurance and € 136m in Ergo. In P&C, the group booked addit...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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