Munich Re Reports €930 Million Q3 Profit Amid Natural Catastrophe Losses
Munich Re Reports €930 Million Q3 Profit Amid Natural Catastrophe Losses

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Munich Re reported a net result of €930 million for the third quarter of 2024, a decline from €1.17 billion the previous year largely due to losses stemming from natural disasters. However, the company has seen an overall increase in net profit for the first three quarters, totaling €4.69 billion, compared to €3.59 billion last year. The reinsurance segment contributed €766 million during this quarter, despite significant losses from events such as Hurricane Helene. Looking forward, Munich Re aims to surpass its annual profit target of €5 billion for 2024, with strong performance anticipated from both reinsurance and its ERGO segment.

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