In the third quarter, Munich Re registered COVID-19-related losses totalling about €800m in reinsurance. The losses were attributable to various business lines, such as insurance for major events and other property-casualty lines, and the life and health business.

As a result of high losses from natural disasters - particularly several severe hurricanes and wildfires in the United States - and man-made losses, the largest of which was the explosion in Beirut's port, Munich Re also registered what was an above-average claims burden from 'non-COVID-19 major losses' for a single quarter.

Subject to the outcome of the ongoing quarterly closing, Munich Re anticipates - given the good performance once again at ERGO - a profit of about €200m (Q3 2019: €865m) for the third quarter of 2020.

Munich Re will publish detailed information on its quarterly figures as scheduled on 5 November 2020.

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Munich Re Group - Münchener Rück AG published this content on 20 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2020 13:49:00 UTC