Munich Re expects rates to cause "difficult" year
Article Abstract:
Germany's Munich Reinsurance Co. announced a 2.8% average decline in rates and a 4% decline in premium volume for contracts renewed on Jan. 1, 2008, due in part to financially stronger primary insurers and growing competition. However, Munich Re also stated that the subprime mortgage crisis had a small impact, and 2007 after-tax profits are expected to rise 10%.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2008
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Munich Re raises target as net rises on tax cut
Article Abstract:
Second-quarter net profit for Munich Reinsurance Co. rose by 2.2% to reach an expected after-tax level of $4.8 bil to $5.2 bil, due in part to a lower tax rate that counterbalanced higher costs, weaker gains in investments, and lower premiums.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 2007
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