Daily Insurance Industry News
Daily Insurance Industry News
Wednesday 22nd of May 2019
August 5, 2009

Munich Re records €1.1bn profits

by Richard Kilner

Story link: Munich Re records €1.1bn profits

Munich Re has recorded profits of €1.1bn in the first six months of 2009.

The German firm made a profit in the second quarter of this year of €703m, a rise on Q2 2008 of 12%.

It is also a very substantial increase on the €420m profits the firm made in Q1 of this year, and marks a return to rising profits.

Management Board Chairman Nikolaus von Bomhard has attributed the rise in profits to the firm’s strong capital base.

Von Bomhard went on to say that he considered the impact of the economic and financial crisis on Munich Re as being limited.

He went on to say that the reinsurance firm was in a good position given its strong capital positions, flexibility and the expertise it was able to offer clients.


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