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Muenchener Rueckversicherungs-Gesellschaft AG Earnings Release 2020
6208_rns_2020-10-20_c073064a-a9c2-4187-bea3-e03d78051663.html
Earnings Release
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News Details
Ad-hoc | 20 October 2020 15:37
Munich Re posts quarterly result of approx. €200m
Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München / Key word(s): Quarter Results
Munich Re posts quarterly result of approx. €200m
20-Oct-2020 / 15:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Munich Re posts quarterly result of approx. €200m
In the third quarter, Munich Re registered COVID-19-related losses totalling about €800m in reinsurance. The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business.
As a result of high losses from natural disasters – particularly several severe hurricanes and wildfires in the United States – and man-made losses, the largest of which was the explosion in Beirut’s port, Munich Re also registered what was an above-average claims burden from “non-COVID-19 major losses” for a single quarter.
Subject to the outcome of the ongoing quarterly closing, Munich Re anticipates – given the good performance once again at ERGO – a profit of about €200m (Q3 2019: €865m) for the third quarter of 2020.
Munich Re will publish detailed information on its quarterly figures as scheduled on 5 November 2020.
Contact:
Dr. Fabian Jürgens
General Counsel & Group Chief Compliance Officer
20-Oct-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | English |
| Company: | Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft in München |
| Königinstraße 107 | |
| 80802 München | |
| Germany | |
| Phone: | +49(0) 89 3891-0 |
| Fax: | +49(0) 89 399 056 |
| E-mail: | [email protected] |
| Internet: | www.munichre.com |
| ISIN: | DE0008430026, DE0008430026 |
| WKN: | 843002, 843002 |
| Indices: | DAX, EURO STOXX 50 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Mailand |
| EQS News ID: | 1141968 |
| End of Announcement | DGAP News Service |