Investment income lifts Munich Re profit
FRANKFURT: Munich Re expects to meet its objectives for the full year after investment income compensated for big natural disaster payouts in the first quarter. The group, whose main business is insuring other insurers, yesterday announced a net profit of €554 million (RM2.6 billion), up 28.7 per cent from the same period last year. Operating or underlying profit grew 31.2 percent to €952 million. Its investment portfolio brought in income of some €2.2 billion while overall claims stood at €403 million.