MUNICH (dpa-AFX) - Munich Re Group or Munich Reinsurance Company (0KFE.L) on Tuesday said its preliminary net profit of around 2.1 billion euros for the first-quarter is higher than analysts' expectations of 1.476 billion euros.
In property-casualty reinsurance, the combined ratio was around 75 percent, attributable in particular to below-average major-loss expenditure.
The company's life and health reinsurance recorded a total technical result of around 0.6 billion euros.
ERGO's net result stood at approximately 0.3 billion euros.
Looking ahead, for the full year, Munich Re has reaffirmed its net result guidance of at least 5 billion euros.
The company is scheduled to release its first-quarter results on May 8.
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