Increasing profit for Munich Re in the first quarter of 2017

Munich Re has published its quarterly financial statements. The balance sheet as at 31 March 2017 showed a net profit of 557 million EUR (598 million USD), up by 27.7% compared to the 436 million EUR (493.3 million USD) for the same period of 2016. This result Is slightly lower than the expectations of professionals who expected a profit of 584 million EUR (627 million USD).

Ergo, the subsidiary of the German reinsurer, greately contributed to these results. The Net result reported from its direct insurance business amounted to 91 million EUR (97.7 million USD)at the end of March 2017.

For the whole year, the group is expecting a profit ranging between 2 and 2.4 billion EUR (2.2 and 2.6 billion USD).

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