Munich Re expects €800 million profit

Posted On: Apr. 24, 2018 5:54 AM CST

Munich Reinsurance Co. expects to post a consolidated profit of more than €800 million ($976 million) in the first quarter due to lower than expected payout for major losses, Reuters reported. The reinsurer's profit totaled €557 million in the first quarter of 2017. Munich Re expects a consolidated net profit of up to €2.5 billion this year.