Munich Re : Investment income and forex helped Q3 2021 results
>Q3 2021 net profit of € 365m - Munich Re reported € 365m net profit for Q3 2021, in line with the € 0.4bn preliminary results release but ahead of -€ 10m net loss expectation of the consensus. Reported reinsurance technical results came in weaker than expected triggered by major nat cat claims in P/C reinsurance and Covid-19 losses in L/H reinsurance. ERGO results were solid and ahead of estimates. Reported net profit implies an annualised ROE of 6.3% for the quarte...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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