Munich Re Posts 15 Percent Rise in 1st Half Premium

September 22, 2000

Munich Re’s 1st half results seem to indicate that maybe reinsurance rates are finally firming. The world’s largest reinsurer posted a 15 percent increase in gross premium revenues for the period to €15.2 billion ($12.85 billion), exceeding analysts expectations. Growth was recorded in all sectors.

The Financial Times noted that more than half of Munich Re’s income is generated outside of the euro zone, and that the currency’s present weakness, therefore increased this segment of earnings. Nevertheless the company upped its forecasts for the full year, and now expects to increase gross premiums for the year by 9 percent from 6 percent.

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