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Last $183.05 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

muenchener rueckver ag-reg (MURGF) Key Developments

Wells Fargo To Sell Rural Community Insurance Agency

Wells Fargo & Company (NYSE:WFC) is mulling the sale of Rural Community Insurance Agency, Inc. Wells Fargo has launched an auction that could fetch more than $1 billion, sources said. Bidders could include PartnerRe Ltd. (NYSE:PRE), AXIS Capital Holdings Limited (NYSE:AXS), Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft (DB:MUV2) and Allianz SE (DB:ALV), according to sources. When contacted by Reuters, Wells Fargo said it is reviewing strategic options Rural Community Insurance Services that may include a sale, excluding the Wells Fargo Insurance Crop Agency, its brokerage arm. "Wells Fargo regularly evaluates the strengths and strategic fit for each of its businesses. As our model continues to evolve, we are more focused on increasing cross-sell and growing the distribution side of the insurance business," according to Wells Fargo spokeswoman. Axis and PartnerRe declined to comment to Reuters.

Munich Re Seeks Acquisitions

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft (DB:MUV2) (Munich Re) said it is interested in potential acquisitions in the specialty insurance space, Reuters reported. Munich Re said August 6, 2015 that it is interested in potential acquisitions in the specialty insurance space, Reuters reported. Munich Re said it will not be an acquirer in traditional reinsurance, but that specialty may be on the cards. It also said there may be acquisitions at primary insurance subsidiary ERGO Versicherungsgruppe AG.

Munich Re Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 2015; Revises Earnings Guidance for the Year 2015

Munich Re reported consolidated earnings results for the second quarter and six months ended June 2015. For the quarter, the company profit was 1,076 million against 762 million a year ago. In the second quarter, the operating result was 1,818 million well above the figure for the same quarter last year of 1,137 million. Total premium income across all lines of business decreased by 3.6% in the second quarter and totalled 4,297 million against 4,458 million a year ago, while gross premiums written decreased by 2.9% to 3,935 million against 4,053 million in the same period a year ago. For the six months, the company’s profit amounted to 1,866 million against 1,703 million a year ago. For the current financial year 2015, the company is now aiming for a profit of at least 3 billion against previous forecast of 2.53 billion.

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft, H1 2015 Earnings Call, Aug 06, 2015

Münchener Rückversicherungs-Gesellschaft Aktiengesellschaft, H1 2015 Earnings Call, Aug 06, 2015

Munich Re to Shut Russian Office

Munich Re decided to close its office in Russia and will serve its clients from it's premises in Munich. The decision would allow it to improve the efficiency of the Russian business and secure future profitability.

 

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Company Last Change
Anthem Inc $138.60 USD -2.45
Aviva PLC 468.60 GBp -15.20
Prudential Financial Inc $77.84 USD -2.86
Swiss Re AG SFr.81.45 CHF -1.60
Zurich Insurance Group AG SFr.259.70 CHF -6.00
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MURGF

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Valuation MURGF Industry Range
Price/Earnings 8.4x
Price/Sales 0.5x
Price/Book 0.9x
Price/Cash Flow 8.3x
TEV/Sales 0.3x
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