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 12:09 2017 Tuesday ,04 April
Yemeni Army controls Midy and Houthi leader dead
GMT 09:19 2018 Monday ,22 January
West's 'Russiaphobia' worse than
GMT 02:31 2017 Sunday ,24 December
Hamleys opens its largest toy store in Beijing
GMT 03:44 2017 Thursday ,05 October
What ban? Chinese in thrall to tennis 'goddess' Sharapova
GMT 13:00 2017 Monday ,03 April
Tropic Skin Care unveils latest launches
GMT 11:55 2018 Friday ,14 December
Study shows most drivers not keen on switching to electric cars
GMT 16:58 2018 Wednesday ,26 September
Kremlin dismisses reports Moscow refused to receive Israel’s national security adviser
GMT 20:54 2017 Monday ,27 March
Sisi, King Hamad to confer on bilateral cooperation Monday
GMT 21:12 2017 Monday ,14 August
RWE optimistic for 2017, boosted by nuclear tax refund
GMT 07:29 2017 Wednesday ,02 August
Tillerson sends senior envoys
GMT 03:59 2017 Friday ,08 September
Venezuela asks pope help, vaunts Russia ties versus US
GMT 16:24 2017 Tuesday ,28 February
Turkey's Economic Confidence Index Rebounds in February
GMT 20:40 2017 Monday ,29 May
Sri Lanka monsoon toll climbs to 164
GMT 09:44 2017 Wednesday ,06 September
Education Affairs Office of CP Court of Abu Dhabi to Host
GMT 08:22 2017 Tuesday ,07 March
GM eyes autonomous future as it sells Opel
GMT 11:40 2017 Wednesday ,03 May
Black rhinos to come back home to Rwanda
GMT 11:55 2018 Wednesday ,05 December
Putin discusses new summit on Syria with Turkish, German leaders
GMT 17:57 2018 Saturday ,20 October
Arab and Muslim nations, commend Saudi Arabia’s decrees on Khashoggi case
GMT 16:36 2017 Monday ,10 April
Pakistan sentences death penalty to Indian spy agent
GMT 01:56 2018 Wednesday ,24 January
In UAE, we are blessed to live in a safe society
GMT 10:02 2018 Monday ,15 January
Trump says immigration deal 'probably dead'
GMT 09:45 2012 Monday ,09 July
Afghan police hunt woman\'s executioner
GMT 20:59 2017 Saturday ,07 October
Iraqi army controls 150 villages
GMT 07:01 2017 Tuesday ,14 February
India shuts down pension scheme for workers
GMT 22:54 2017 Saturday ,22 April
China pushes for all-round cooperation with Iran
GMT 11:03 2016 Wednesday ,10 August
Erdogan wants TurkStream gas pipeline 'done as fast as possible'
GMT 01:47 2017 Thursday ,26 January
Gulf nations are part and parcel of Asia, Abdullah says
GMT 18:03 2017 Friday ,10 March
Mother of the Nation Festival celebrates Emirati Women
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