Munich Re: shares up after preliminary results
(CercleFinance.com) - Shares of Munich Re rose over 2 percent on Friday after the German reinsurer posted preliminary results and confirmed its outlook for 2019.
The company said it will post a consolidated result in the order of approximately 1 billion euros for the second quarter.
"This is mainly attributable to low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years," the group said.
Munich Re also maintained its target of a consolidated result at 2.5 billion euros for the full year.
Its shares rose 2.2 percent at 228 euros in morning trading in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The company said it will post a consolidated result in the order of approximately 1 billion euros for the second quarter.
"This is mainly attributable to low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years," the group said.
Munich Re also maintained its target of a consolidated result at 2.5 billion euros for the full year.
Its shares rose 2.2 percent at 228 euros in morning trading in Frankfurt.
Copyright (c) 2019 CercleFinance.com. All rights reserved.