Daily Insurance Industry News
Daily Insurance Industry News
Sunday 26th of May 2019
August 4, 2010

Munich Re reports Q2 results

by Richard Kilner

Story link: Munich Re reports Q2 results

Munich Re has reported that in the second quarter of the year it made a consolidated profit of €709m, €12m more than it earnt in the same period last year and substantially more than the €485m made in Q1 2010.

In the first half of the year Munich Re saw investment income increase by 42.8% to €5.1bn.

For the first six months the firm achieved an operating result of €2,218m (€1,448m of which was made in Q2).

Gross written premiums were up by 9.3% to €22.6bn.

The firm is on course to achieve its annual profit target of exceeding €2bn in 2010.

Chief Executive Officer Nikolaus von Bomhard explained that whilst the firm was hit hard by large losses it managed to turn in a very good profit from investments.


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