Munich Re profit quadruples in 2012 to €3.2bn

munichrelogo

Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).

Gross premiums written by the Group in the financial year 2012 rose by over 5% to €52.0bn (2011: €49.5bn) and it posted an operating result of €5.4bn (1.2bn).

In its primary insurance business, Munich

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ABI insists fire safety scheme is temporary

Mervyn Skeet, the Association of British Insurers’ director of general insurance, has outlined how the trade body will ensure the Fire Safety Reinsurance Scheme will only last three to five years, and how it will should end criticism of brokers earning commission for arranging cover.

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