The German insurance group Munich Re closed the second quarter with a net income of 808 million euros, up 9,8% on the previous year: performance that beats the official forecasts and those expected by the market (which limited progress to +7%). Operating profit stood at 1,110 billion, equal to an increase of 16,4%.
The German group, world leader among reinsurers, estimates that it will be able to close the year with profits "slightly" higher than the 2,5 billion that have been budgeted so far. Munich Re has also slightly improved its forecast for gross earnings (which for an insurance group is equivalent to turnover): estimated at between 50 and 52 billion (49-51 billion previously). Going back to the second quarter accounts, the German company it also recorded an improvement in activities on the insurance capital market and those on the primary insurance market where Munich Re is present with its subsidiary Ergo.
