23 February 2018

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Munich Re P&C reinsurance suffers EUR476mn loss in 2017

6 February 2018

Munich Re's property-casualty (P&C) reinsurance business reported a EUR476mn loss for the full year 2017, compared with EUR2.03bn profit in 2016, on the back of fourth quarter natural catastrophe losses.

The P&C full-year combined ratio rose 18.4 percentage points to 114.1 percent, but only 2 percentage points for the fourth quarter of 2017, to 103.9 percent.

Munich Re said it was able to release reserves, adjusted for commissions, of EUR870mn for the full year, and EUR130mn for Q4.

Across the...

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