Munich Re posts 42% drop in Q2 net profit amid COVID-related losses

FRANKFURT, Aug 6 (Reuters) - German reinsurance group Munich Re MUVGn.DE said on Thursday that net profit declined 42% in the second quarter, with around 700 million euros ($832 million) in losses related to the coronavirus pandemic in the period.

The company, which is not providing a full-year profit target given uncertainty around the virus but did slightly raise its outlook for premium income, had already announced preliminary earnings in July.

($1 = 0.8415 euros)

(Reporting by Tom Sims; editing by Thomas Seythal)

((; +49 30 220 133 645;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


More Related Articles

Info icon

This data feed is not available at this time.

Sign up for Smart Investing to get the latest news, strategies and tips to help you invest smarter.