Munich Re profits down 70%, GWP up 9%
Exceptional major losses and “burdens from the financial crisis” slashed Munich Re’s profit last year by more than 70% to €0.71bn from €2.43bn in 2010. This was despite gross written premiums being up by almost 9% to €49.6bn (€45.5bn).
The profit for the fourth quarter was €0.63bn, up from €0.48bn for the same period last year and the reinsurer said it expected 2012 to return to the result level achieved prior to 2011.
Munich Re
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Reinsurance
Big Interview: Anne Middleton, Convex UK
Anne Middleton, Convex’s UK CEO, talks to Insurance Post about continuity through a change of chair, why market share matters more than premium, and staying disciplined as the market softens.
Why the real AI advantage in insurance lies beyond the model
View from the top: Ben Rose, CEO of Supercede, argues that as artificial intelligence models become commoditised, the advantage for the industry will come from the context and infrastructure surrounding them.
Why Flood Re must change before it becomes unfit for purpose
Trade Voice: Perry Thomas, CEO of Flood Re, explains why the flood insurance market is on the cusp of change, and why fairness and resilience must remain centre stage.
Diary of an Insurer: Swiss Re’s Leo Dixon
From winter storm-driven flight delays, to early morning sea-air walks in Poole and artificial intelligence-driven Claims Reimagination sessions, Leo Dixon, global head of claims for property and casualty reinsurance at Swiss Re, shares why there’s no such thing as a typical week in claims.
Regulators target four-week captive approvals
The Prudential Regulation Authority and the Financial Conduct Authority have launched a consultation on a new framework for captive insurance, eyeing a summer 2027 launch date.
Big Interview: Tom Clementi, Pool Re
Tom Clementi, CEO of Pool Re, speaks to Insurance Post regarding his efforts to modernise the government-backed reinsurer, how terror risk has evolved, and where the firm sits on cyber.
Pool Re launches terror resilience assessment tool
Terrorism reinsurer Pool Re has launched a tool aimed at helping policyholders assess and manage terrorism risk across property portfolios.
Swiss Re chief stresses resilience and strong foundations
Swiss Re group chief executive officer Andreas Berger has encouraged insurers to strengthen their foundations in order to help customers navigate growing geopolitical and economic uncertainty.