Munich Re : Net result in line despite high cost of major claims
>Operating result lower than expected in P&C reinsurance…… - Munich Re reported its 2019 results on Friday morning. The operating result in Q4 2019 came to € 580m, in line with forecasts, but it was lower than expected in P&C reinsurance, offset by the operating result in life and health reinsurance and by Ergo. In P&C reinsurance, the operating result came to -€ 30m in Q4 2019 (vs € 251m for the consensus) with a combined ratio of 112.5%, higher than forecast (consen...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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