|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||23.29 - 23.37|
|52 Week Range||22.27 - 31.95|
|Beta (5Y Monthly)||1.08|
|PE Ratio (TTM)||10.61|
|Forward Dividend & Yield||1.16 (5.04%)|
|Ex-Dividend Date||Apr 29, 2022|
|1y Target Est||N/A|
Munich Re on Tuesday posted a 3% rise in net profit for the first quarter, weighed down by a drop in its investment result after it made writedowns on Russian and Ukrainian bonds. Net profit in the quarter of 608 million euros ($643.08 million) compares with 589 million euros a year ago and is slightly better than expectations of 597 million euros. Munich Re took writedowns of almost 700 million euros on Russian and Ukrainian bonds.
Munich Re is planning new wordings in cyber insurance policies to exclude war, to avoid disputes over what is covered, the reinsurer's top cyber underwriter told Reuters. Russia's invasion of Ukraine has raised fears of cyber attacks, with the risk that Western businesses or government institutions could be targeted. Most cyber policies cover companies against business interruption losses and the repair of hacked networks following a cyber attack, but exclude war.
FRANKFURT (Reuters) -German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters. Marked by devastating hurricanes and cold snaps in the United States, 2021 was one of the costliest ever for the world's insurers. Nevertheless, Munich Re net profit in 2021 more than doubled to 2.9 billion euros ($3.28 billion), up from 1.2 billion euros a year earlier.