Munich Re posts EUR1.6bn Hurricane Ian loss
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Munich Re posts EUR1.6bn Hurricane Ian loss

Munich Re logo Munich Germany.jpg

Munich Re is to record a net loss from Hurricane Ian of around EUR1.6bn ($1.56bn) and noted that it has become “significantly more challenging” for it to meet its full-year profit target of EUR3.3bn.

The carrier said it registered higher-than-average major loss expenditure in P&C during the third quarter.

However, due to an anticipated positive impact on its Q3 results from “sustained, encouraging” performance in all lines of business and a positive one-off impact...

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