Ergo expected to generate more than $200 million in profit: Munich Re

Joachim Wenning, chief executive of Munich Reinsurance Co., has said that the reinsurer's unit Ergo Group A.G. is expected to generate a profit between €150 million ($164 million) and €200 million ($218.5 million) this year, Reuters reported. Mr. Wenning added that Ergo is expected to contribute €600 million to Munich Re's profit from 2021. Meanwhile, Munich Re expects to report profit in the range of €2 billion to €2.4 billion this year.

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