MUNICH (dpa-AFX) - German reinsurer Munich Re (0KFE.L) Thursday announced that it expects second-quarter consolidated result to be about 1 billion euros.
The company said the result is mainly attributable to low major-loss expenditure and high reserve releases for basic losses in reinsurance from prior years.
However, due to the usual uncertainty concerning developments in major losses and the capital markets during the rest of the year, the outlook for the 2019 consolidated result remains unchanged at 2.5 billion euros.
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