In­vest­ment in­come lifts Mu­nich Re profit

New Straits Times - - Business -

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.

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