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Munich (dpa) - As expected, the corona pandemic brought the reinsurer Munich Re a sharp drop in profits last year.
The bottom line was a surplus of 1.2 billion euros, about 55 percent less than a year earlier, as the Dax group announced on Thursday in Munich.
Munich Re achieved the profit forecast it had only issued at the beginning of December, but performed somewhat weaker than the average recently expected by analysts.
In the meantime, the shareholders should receive a stable dividend of EUR 9.80 for 2020.
In the reinsurance business, the group posted corona-related losses of 3.4 billion euros, while the primary insurance subsidiary Ergo incurred 64 million euros.
In the current year, CEO Joachim Wenning wants to push the profit up to 2.8 billion euros as already announced.
Noticeable price increases in reinsurance are also expected to contribute to this: When the treaty was renewed at the turn of the year, Munich Re was able to get 2.4 percent higher premiums and expand its business volume by 10.9 percent.
© dpa-infocom, dpa: 210225-99-584820 / 2
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