The German reinsurer Munich Re This Friday has cut its insurance income forecasts by 2025, claiming the evolution of businesses and exchange rates, in addition to informing of a fall in its July renovations. However, the company maintains its objective of benefits for the whole year.
The announcement is received with strong drops of the action: in mid -morning Munich Re is already 8.16%, being, by far the most penalized value of a Stoxx 50 euro that at the same time records slight increases (+0.13%).
As the German company has put on the table, it is expected that LInsurance revenues from your reinsurance division reach 40,000 million eurosbelow the previous forecast of 42,000 million euros.
Total group insurance revenues are estimated at 62,000 million euros, below the previous expectations of 64,000 million euros.
The July renovations of the company meant a 2.5% drop in prices and 3.2% in volume, Munich Re.