German reinsurance giant Munich Re reported a preliminary second-quarter net profit of 1.1 billion euros ($1.3 billion) on Tuesday, up from 580 million last year despite payouts linked to Covid-19. From April to June, losses in the company’s life and health insurance business “clearly exceeded the expectation mainly due to the high mortality rate in… Continue reading Munich Re Profits Hit 1.1 Billion Euros Despite Covid-19
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Hannover Re Posts 9MM Underwriting Loss; Reinstates Profit Guidance for 2020
German reinsurance giant, Hannover Re, has reported a 33.4% reduction in Group net income for the first nine months of the year to €667.8 million, as the firm’s property and casualty (P&C) reinsurance segment fell to an underwriting loss as major loss expenditure exceeded budget in the period. Group net income declined to almost €668… Continue reading Hannover Re Posts 9MM Underwriting Loss; Reinstates Profit Guidance for 2020