(RTTNews) - Munich Re (0KFE.L) reported second quarter profit of 579 million euros, a decline of 41.7 percent from previous year. Earnings per share was 4.14 euros compared to 6.88 euros. The Group recorded COVID-19-related losses of around 700 million euros, for the quarter. Operating result was 755 million euros, down 46.8 percent.
Second quarter Gross premiums written was 12.83 billion euros, an improvement of 8.7 percent from prior year.
In second quarter 2020, annualised return on equity (RoE) was at 10.4%.
Joachim Wenning, Chairman of the Board of Management, said: "We expect to post a premium volume of 54 billion euros in 2020 - which would set a new record in the 140-year history of Munich Re."
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