Munich Re : Reinsurance operations surprised on the upside
>Q1 2021 results reflect improving underlying profitability in reinsurance - Munich Re reported Q1 2021 net profit of € 594m and thus in line with the pre-released figure of ~€ 600m. Underlying earnings quality was strong in reinsurance operations while ERGO’s results were solid but slightly shy of expectations. The group’s solvency II ratio improved to 217% but came in below the 222% consensus estimate. We have fine-tuned our estimates for higher than expected volum...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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