Munich Re's net profit down by 28.7%

In the third quarter 2015, Munich Re, the world's reinsurance leader recorded a group net profit (including insurance operations) of 525 million EUR (590 million USD), down by 28.7%. This decline is related to the deterioration of the investment portfolio and the 55% fall in the operating result of its insurance subsidiary Ergo.

In reinsurance, despite a premium volume up to 5.7%, the operating income of 424 million EUR (476 million USD) declined by 29.7% in the third quarter 2015 compared to the same period in 2014.