Munich Re is expecting a higher consolidated result for 2010 than previously expected, boosted by significant improvements in the group's primary insurance and healthcare arms, according to its Q3 results.
Following a profit of €1,955m for the first nine months of 2010 (same period last year: €1,784m), Munich Re is now anticipating a consolidated profit of around €2.4bn for the year as a whole, compared with the guidance to date of over €2bn. Jörg Schneider, Munich Re's chief financial officer, said: "Particularly the figures for the third quarter are very pleasing. The chances are therefore good that we can achieve a consolidated result of around €2.4bn. Besides normal claims development, determining factors will be share prices, interest rates and currencies." In Munich Re's primary ...
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