Munich Re Reports 63% Decline In Q3 Net Profit

Munich Re AG reported a 63% drop in its Q3 net profit.

Munich Re's quarterly net profit declined to EUR286 million, from EUR764 million, versus analysts' estimates of EUR542 million. Its net investment result fell 39% to EUR1.35 billion from EUR2.20 billion.

Munich Re's operating profit dropped 27% to EUR839 million from EUR1.15 billion, versus analysts' estimates of EUR902 million.