Few natural disasters: Munich Re raises its forecast after a strong quarter

Munich. After a surprisingly good quarter, the reinsurer Munich Re is raising its forecast for the current year. The group now expects a profit of 6.6 billion euros by the end of the year - 300 million more than before, as it announced. 5.7 billion of this has already been received after the first three quarters.

The company reported a preliminary net profit of 1.7 billion euros for the third quarter. That is 0.2 billion more than the so-called analyst consensus - an average of the expectations for the result. The important drivers for this were the fact that there were relatively few expensive natural disasters or other major loss events. In addition, the capital investments were going well. Major losses remained relatively minor in the first half of the year.