8th August 2018

Munich Re on track and "becoming more profitable, more digital and leaner" says Chairman Wenning

Munich Re has reported second quarter and interim financials-highlights are:
-Q2 result of E728m(E733m) at previous-year level–despite high man-made major losses
-Profit for the first half-year up by 20.5% to E1,555m (E1,290m)
-ERGO contributed E108m to the Q2 result and E185m to the half-year result
-Following good performance, combined ratio of 96 rather than 97 expected for ERGO International
-Life and health reinsurance with a very good technical result of E176m in Q2.
Joachim Wenning, chairman of the Board of Management, comments “With a half-year profit of E1.6bn, we are most certainly on track to reach our profit target of E2.1–2.5bn for the year as a whole. We also made progress with the implementation of our strategy: Munich Re is becoming more profitable, more digital and leaner.”

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