Munich Re releases €1.4bn of reserves as it records €3.1bn profit despite Ergo struggles
Munich Re this morning reported a consolidated profit of €3.1bn (£2.5bn) (2014: €3.2bn) for 2015 on gross written premiums of €50.4bn (2014: €48.8bn).
The reinsurance business accounted for €28.2bn of the GWP (2014: €26.8bn) and a profit of €3.3bn (2014: €2.9bn). Its combined operating ratio was 89.7% (2014: 92.7%).
The business said claims
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