Munich Re says Q1 profits falls 45%, ups estimates
Munich Re, the German reinsurance giant, said that first quarter profit fell 45% to €420m, down from €777m in the earlier quarter.
The result was hit by an 18% drop-off in investment income, which fell to €1.36bn from €1.675bn a year earlier. CFO Jörg Schneider said in a statement: "In view of the difficult economicOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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