Insurance Post

Munich Re sees profits slip owing to major losses

Storm warning

Munich Re has seen full year profits decline by 16% owing to storm and earthquake claims in the last quarter.

The reinsurer posted profits of €2.6bn (£2.2bn) in 2016, down from €3.1bn (£2.6bn) the previous year.

Munich Re saw total major loss expenditure of €1.5bn last year, with claims payouts in the fourth

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