Munich Re results hit by American Re drain
Munich Re’s results for the first half of 2005 have been hit by the continuing need to strengthen the reserves of its subsidiary, American Re.
The company posted a profit for the first half of the year of €870m, down on the €1192m it made over the same period of 2004. It said that this included the reserve strengthening of American Re, whichOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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