Munich Re forecasts €500 million dip in ’08 profit
Munich Re has forecast a dip in net profit of least €500 million ($849 million) for the year due to an increase in claims in the first quarter.
At last week’s AGM, the reinsurer forecast a profit of between €3 billion ($5.1 billion) and €3.4 billion ($5.8 billion) for the year, compared with last year’s record profit of €3.9 billion ($6.6 billion).
At last week’s AGM, the reinsurer forecast a profit of between €3 billion ($5.1 billion) and €3.4 billion ($5.8 billion) for the year, compared with last year’s record profit of €3.9 billion ($6.6 billion).