Munich Re to exceed its 2019 targets

From July to September 2019, Munich Re posted a net quarterly profit of 850 million EUR (930 million USD), up by 75% compared to the 483 million EUR (560 million USD) reported at the same period of last year. This performance exceeds the 2019 expectations.

Despite natural catastrophe claims, the profit achieved by the end of the third quarter of 2019 is accounted for by the good performance of all operations and by the currency gains made during the period under review.

The German reinsurer expects its annual net profit target to exceed 2.5 billion EUR (2.79 billion USD) against 2.31 billion EUR (2.64 billion USD) in 2018 and only 375 million EUR (449 million USD) in 2017.

Read also | Munich Re: Q2 2019 results