Advertise
Resources
Member, Beacon International Group, Ltd.
Deutsche Bank A.G. has said that European reinsurers' profits are likely fall about 58% in the second quarter of 2016 as huge catastrophe losses in the quarter weigh on their catastrophe budgets, reported Artemis.bm.
The catastrophes are likely to exceed the amount that reinsurers have reserved for natural catastrophes, said Deutsche Bank. "Q2 profits will likely be down, especially for Munich Reinsurance Co. (-58%), Scor S.E. (-39%) and Swiss Re Ltd. (-22%)," said the bank. It said that Hannover Re S.E. would see about a 2% profit increase.