Insurance – crisis weighs on Munich Re – economy

The world’s largest reinsurer, Munich Re, expects earnings to fall by more than half this year due to the corona pandemic. CFO Christoph Jurecka announced a result of 1.2 billion euros on Tuesday. That would be 1.5 billion less than last year and 1.6 billion less than originally hoped for this year. “However, we can cope with the stresses caused by Covid-19,” said Jurecka. The company is now aiming for the 2.8 billion euros in profit not achieved this year for the coming year. Munich Re had already canceled its profit target for this year in March.

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