Aug 4 (Reuters) – Munich Re (MUVGn.DE) reported net profit of 709 million euros ($927 million) in the second quarter, above expectations, despite a hit from damage claims such as the sunken Deepwater Horizon oil rig.
The result was above the highest forecast of 570 million euros in a Reuters poll of 15 banks and brokers and well above the average forecast of 481 million euros, rising 3.5 percent from the year-earler quarter. [ID:nLDE67119I]
Munich Re, the world’s biggest reinsurer, also said it was sticking to its full-year goal of achieving net profit of more than 2 billion euros.
“Following the major losses in the first half-year, this target remains ambitious, but given normal loss experience and continued strong investment results it is certainly achievable,” the company said in a statement on Wednesday.
(Reporting by Christian Kraemer in Munich and Jonathan Gould in Frankfurt)
