Munich Re's Profit Warning Points to Weakness Across Divisions -- Market Talk

Dow Jones10-22

1148 GMT - Munich Re's third-quarter profit warning implies weak earnings in its life and health reinsurance division and ERGO subsidiary, Jefferies analysts Philip Kett and James Pearse write. The reinsurer said it expects a lower-than-anticipated net income of 900 million euros. That is due to higher-than-average major-loss expenditure from natural catastrophes. Jefferies anticipated earnings higher than 900 million euros even after accounting for high natural catastrophe loses, the analysts say. This means that performance elsewhere across the group are lower than expected, the analysts say. Shares trade down 2.65% at 477.30 euros. Shares are up 27% year to date. (adam.whittaker@wsj.com)

(END) Dow Jones Newswires

October 22, 2024 07:49 ET (11:49 GMT)

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The ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4019","symbol_name":"再保险","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2477338559","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2477338559","pubTimestamp":1729597740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1148 GMT - Munich Re's third-quarter profit warning implies weak earnings in its life and health reinsurance division and ERGO subsidiary, Jefferies analysts Philip Kett and James Pearse write. 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