Hur­ri­cane dam­age to push Munich Re into loss

The Daily Telegraph - Business - - Business -

Ger­man rein­surer Munich Re has is­sued a profit warn­ing say­ing its earn­ings looked set to take a hit from hur­ri­canes Irma and Har­vey. It said the two events were likely to re­sult in “high in­sured loss”, which could push it into the red in the third quar­ter. Munich said it may also miss its €2bn-€2.4bn (£1.8bn-£2.1bn) full-year profit tar­get.

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