Popular Searches:  AIG  LIFE  china  financial  sunamerica+aig  old republic

Reinsurer Munich Re has 2Q profit of euro703 million

 

Wednesday, Aug 05,2009, 11:49:37 PM   Click:

FRANKFURT_German reinsurer Munich Re AG said Tuesday its second-quarter net profit rose nearly 12 percent on solid growth in written premiums.

The Munich-based reinsurer earned euro703 million ($1 billion) in the April-June period compared with euro628 million a year earlier.

Gross written premiums, a key measure of revenue, were 14.6 percent higher at euro10.3 billion in the quarter compared with euro9 billion in the second quarter of 2008.

Investment returns also gained in scope, rising nearly 38 percent to nearly euro2.2 billion compared with nearly euro1.6 billion last year.

Munich Re is the world's biggest reinsurance company by gross written premiums. Reinsurers sell back up coverage to primary insurers to absorb shocks in case of large losses or catastrophes. The company also sells primary insurance.

  • Print

You may also be interested in:

Discuss this news

Click Here to see all comments
Please aware of self to obey the Internet related policy laws and strictly forbid to release porn, violence.
Appraisal:

Name:

Email:

Content:

Featured

Copyright: The Associated Press. All rights reserved. May This material may not be published, broadcast, rewritten or redistributed. Source: Associated Press Wordcount: NEW YORK_Wall Street began

Housing face, hoping to lift the U.S. stock insurers

Copyright: The Associated Press. All rights reserved. May This material may not

MILWAUKEE_Private provider of mortgage insurance MGIC Investment Corp. 's loss for the second quarter widened, the company said Thursday that crimes have increased due to rising unemployment, falling

MGIC 2Q loss widens, plans to shift new business

MILWAUKEE_Private provider of mortgage insurance MGIC Investment Corp. 's loss

NEW YORK, June 15 /PRNewswire/ -- A coalition of insurance companies today expressed serious concerns about the possible impact on insurers of changes to the Available for Sale (AFS) classification

NY AFS classification

NEW YORK, June 15 /PRNewswire/ -- A coalition of insurance companies today

Reinsurance Group of America, Inc. (RGA), a provider of life reinsurance services, has entered into an agreement to acquire ING Reinsurance US from ING Group for EUR100 million. Both RGA and ING

Reinsurance Group of America to acquire ING

Reinsurance Group of America, Inc. (RGA), a provider of life reinsurance

Newport Beachs Pacific Life Insurance Co. has been on a wild ride with its investments in the past year but its mainstay life insurance business appears to be holding up. Parent company Pacific

Insurer Pacific Life Sees AIG Hangover, Policy Sales

Newport Beachs Pacific Life Insurance Co. has been on a wild ride with its

CHICAGO--(BUSINESS WIRE)-- (This is an amended version a release issued earlier today containing revised information on the dollar amount of MFC's unrealized losses on alternative asset classes in

Correction: Fitch Affirms Manulife Financial Corp's

CHICAGO--(BUSINESS WIRE)-- (This is an amended version a release issued earlier

Copyright 2009 GlobeNewswire, Inc.All Rights Reserved GlobeNewswire April 23, 2009 Thursday 7:08 AM EST SECTION: RESEARCH ANALYSIS AND REPORTS LENGTH: 1120 words HEADLINE: Troubled Insurance Industry

Troubled Insurance Industry is Making Changes to

Copyright 2009 GlobeNewswire, Inc.All Rights Reserved GlobeNewswire April 23,

MOST POPULAR