MUNICH (dpa-AFX) - Munich Re (0KFE.L) reported third-quarter COVID-19-related losses totaled about 800 million euros 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.
Munich Re also reported what was an above-average claims burden from 'non-COVID-19 major losses' for a single quarter, as a result of high losses from natural disasters, and man-made losses, the largest of which was the explosion in Beirut's port.
Munich Re anticipates a profit of about 200 million euros for the third quarter of 2020, compared to 865 million euros reported last year.
The company will publish its third-quarter results on 5 November 2020.
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