Economy: Munich Re Q3 Profits Up 30%, Raises Guidance for 2016
German reinsurance company Munich
munich - Arab Today
German reinsurance company Munich Re raised today its outlook for 2016 after its net profit for the third quarter jumped 30%.
Even though the insurance sector in general is having to cope with low interest rates, the group said profits over the July to September period climbed to 685 million euros, compared to 520 million euros a year earlier.
Munich Re’s operating profit were up even more, 75% to 1.01 billion euros year-on-year, with the group putting its strong performance down to a lower than average random incidence of major losses in reinsurance.
The most expensive natural catastrophe it had to deal with was the flooding in the US state of Louisiana in August, which will cost the firm 60 million euros, AFP reported.
Boosted by its third quarter, Munich Re said it now expected its full-year net profit to be much higher than the 2.3 billion euros forecast earlier.
The statement added that the improved outlook was already taking into account losses expected from the devastation wrought by deadly Hurricane Matthew, which battered the Caribbean and parts of the United States last month. (QNA)
- Tuesday ,11 December GMT 09:01 2018 US marines missing after aircraft collision off Japan confirmed dead
GMT 15:34 2018 Friday ,14 December
Moscow ready for Putin-Trump meetingGMT 13:40 2018 Friday ,14 December
Britain and EU should prepare for second Brexit referendumGMT 11:43 2018 Friday ,14 December
Kosovo to build an army amid tensions with SerbiaGMT 11:52 2018 Thursday ,13 December
Britain's May to appeal to EU for help to salvage Brexit dealGMT 10:28 2018 Wednesday ,12 December
Huawei Executive Gets Bail In Case Rattling China TiesGMT 09:01 2018 Tuesday ,11 December
US marines missing after aircraft collision off Japan confirmed deadGMT 08:55 2018 Monday ,10 December
Top EU court to issue decision on reversal of BrexitGMT 08:37 2018 Monday ,10 December
Peruvians vote for anti-corruption reforms
Economic conference on investment opportunities in Syria kicks off
Bucharest - SANA
With the participation of 120 representatives of Romanian companies, Chambers of Commerce and industry, An economic conference on “Reconstruction in Syria between the development of economic steadfastness and the opportunities ofRussia tests new telemetry system during manned Soyuz MS-11 spacecraft’s launch
Moscow - TASS
The Astra-06 apparatus developed by specialists of Russian Space Systems (RSS) was used for the first time as additional telemetric equipment aboard the manned Soyuz MS-11 spacecraft launched from the Baikonur CosmodromeLiverpool, Manchester City seek neighbours' help in title chase
London - DPA
Liverpool and Manchester City will be looking for a little help from their not-so-friendly neighbours this weekend. The Premier League front-runners face each other's local rivals when City host Everton and Liverpool take on Manchester United. Liverpool jumped above City at theBlue light in smartphones linked to blindness and some cancers
Spain - DPA
Ever since we have started to become chained to our smartphones and tablets, people have been saying that the waves coming off these devices must be bad for us. So often laughed off as conspiracy theorists, it now looks more and moreFestive Fashion by Dubai-based designer ASMARAÏA
Dubai - Arab Today
Dubai-based label ASMARAÏA just launched its pre-fall 2019 collection — and it’s all about cruelty-free, sustainable fashion with a festive edge. Checkmate The 15-piece collection features this checkered skirt-and-jacket ensemble that is giving us major “Clueless” vibes. Gold Rush ‘Tis the season to sparkle and this dazzling, floor-length gold skirt will do the trick. Take note of the chic black bow detail at the waist — it’s the ultimate party look. Feathered fashion The brand works with environmentally-friendly materials such as organic cotton, recycled polyester and faux fur, so you can be sure this feathered look doesn’t come at the cost of an animal’s life. Jewel Tones If you want to glisten like a polished jewel at your next festive function, this emerald-colored skirt is the perfect choice with its sequin details and shimmery overlay. Golden Girl Leopard print
GMT 08:25 2018 Wednesday ,12 December
Australian government discusses moving Israel embassy to Jerusalem
GMT 18:54 2016 Thursday ,01 December
EU unveils defense action plan amid Trump criticism
GMT 15:05 2016 Tuesday ,08 March
Iran's ex-president Khatami urges restrictions lifted
GMT 02:48 2017 Friday ,07 April
Rise in UAE trailer accidents prompts training review
GMT 08:58 2016 Tuesday ,20 December
Kuwait to amend law to end IOC-FIFA led suspension
GMT 12:02 2017 Sunday ,05 March
Salem bin Ghadayer close to Dubai World Cup ‘dream’ after Super Saturday success
GMT 14:55 2017 Sunday ,01 January
Miley, Liam visit patients at kids’ at a San Diego children
GMT 20:27 2017 Monday ,27 February
Parliament considers solutions to overpopulation
GMT 18:03 2017 Tuesday ,11 April
Australia fake cancer claim blogger ordered to pay costs
GMT 05:30 2017 Thursday ,31 August
World 800m champion Bosse 'brutally assaulted'
GMT 08:51 2016 Wednesday ,16 November
Los Angeles, Budapest, Paris vying to host Olympics 2024
GMT 07:21 2017 Tuesday ,31 October
Dora resumes filming “The Backstreet”
GMT 13:59 2017 Sunday ,29 October
India flouting international law and norms of civility: Kh Asif
GMT 15:35 2016 Tuesday ,14 June
World Bank: India records 10-Year low in public private investmentsGMT 23:13 2011 Wednesday ,21 December
Bulgari by Zaha Hadid Architects
GMT 02:13 2017 Saturday ,21 October
January21st-February19th
GMT 05:52 2017 Tuesday ,12 December
Spalletti embarrassed by Mourinho comparisons
GMT 01:54 2017 Tuesday ,12 December
De Mistura discuss developments in Syria with Zarif and Jaberi Ansari
GMT 09:35 2017 Friday ,05 May
Iceland drills 4.7 km down into volcano
GMT 12:18 2017 Sunday ,05 March
UAE v Japan, 2018 World Cup qualifier
GMT 07:23 2017 Monday ,03 April
Italy brokers deal with Libyan tribes to curb migrant influx
GMT 03:29 2017 Wednesday ,16 August
GCHQ chief reports 'disturbing' cyber attacks on UK
GMT 01:49 2017 Saturday ,09 December
Hariri arrives at French Foreign Ministry
GMT 23:01 2017 Friday ,08 December
Berri says those who dare attack Jerusalem, attack all of Palestine
GMT 11:42 2017 Sunday ,10 September
HM King reappoints Constitutional Court members
GMT 14:11 2017 Monday ,20 February
‘UN philanthropist and businessman’ jailed in Dubai for smuggling meth pills
GMT 14:32 2017 Thursday ,02 November
raqi counter-offensive roils Kurdish Regional Government
GMT 09:33 2017 Tuesday ,07 March
Alia Bhatt on her mature role in the romantic comedy Badrinath Ki Dulhania
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor