Floods that devastated parts of Germany in June could be the costliest natural disaster ever to hit the country, a top insurer said on Tuesday. The company is calling for an end to building in flood-prone areas.
Munich Re, the world's biggest reinsurer, said Tuesday its bottom-line profit increased by more than fourfold in 2012 because natural catastrophes cost it less than a year ago.
Munich Re, the world's biggest reinsurer, said Thursday that profits plummeted last year due to heavy losses from both the eurozone debt crisis and a string of natural catastrophes.
The world's biggest re-insurance group, Germany's Munich Re, said Thursday that its second quarter net profit rose 3.8 percent to €736 million ($1.05 billion) despite a heavy charge on its holdings of Greek debt.
German reinsurance group Hannover Re said Wednesday that the Japanese disasters would cost it around €250 million ($350 million), six times less than global giant Munich Re.
German re-insurance giant Munich Re posted Thursday a 2010 net profit of €2.43 billion ($3.35 billion) despite heavy losses from natural disasters and promised shareholders an improved dividend.
German insurance group Munich Re posted a better-than-expected second quarter net profit on Wednesday owing to earnings from investments, and raised slightly a full-year sales target despite losses from events such as the BP oil catastrophe.
Deutsche Bank and insurers Allianz and Munich Re could lend Greece €1 billion ($1.3 billion) on the same terms as a EU-IMF bailout package, the Financial Times Deutschland reported on Monday.
The world's biggest reinsurer, Munich Re, reported Tuesday that net profit soared 62 percent last year, exceeding the group's own forecast owing to a sharp decline in natural disasters.
Natural disasters linked to climate change could cost the insurance industry billions of dollars in extra settlement payments every year, German insurance giant Munich Re said Thursday.
Munich Re, one of the world's top reinsurance companies, surprised analysts on Tuesday with strong second-quarter figures, the latest in a row of mostly upbeat global financial sector results.
German re-insurance giant Munich Re warned Friday that its 2008 net profit would miss previous forecasts although it would be "still well above €2 billion" ($3.14 billion).
