Munich Re : Warning on 2020 earnings and share buyback programme discontinued
>Guidance for 2020 earnings will not be met, unsurprisingly - Munich Re indicated yesterday evening, that its P&C reinsurance business has registered a considerable claims burden related to COVID-19. These claim charges are essentially due to the cancellation or postponement of major events. The group now anticipates earnings for Q1 2020 in the “low three-digit million euro rangeâ€Â (i.e. around € 0.1-0.2bn) vs € 633m in Q1 2019. Given uncertainty surrounding the macro ...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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