Magazine date:
Dec 2017 Munich Re posted negative results in the third quarter of 2017. The second largest reinsurer reported a net loss of 1.44 billion EUR (1.7 billion USD), compared to a net profit of 684 million EUR (767.7 million USD) during the same period of 2016.
The combined ratio deteriorated by 68.4 points from 92.5% to 160.9% during the reporting period. This loss ratio deterioration is mainly accounted for by the series of natural catastrophes that had occurred in September 2017.
Munich Re is not the only company accounting for losses in the third quarter of 2017. Indeed, Swiss Re, Scor and Hannover Re have also suffered losses.
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- The Insurance around the World [4]