for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up

Munich Re confirms Q3 profit plunge amid pandemic

FRANKFURT, Nov 5 (Reuters) - German reinsurance group Munich Re said on Thursday that net profit declined 77% to 199 million euros ($234 million) in the third quarter, with around 800 million euros in losses related to the coronavirus pandemic in the period.

The company, which is not providing a full-year profit target given uncertainty around the virus, had already said last month that profit would drop to about 200 million euros.

$1 = 0.8518 euros Reporting by Tom Sims; editing by Thomas Seythal

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up