Munich Re Raises Dividend as Profit Beats Estimates
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Munich Re, the world’s biggest reinsurer, plans to boost its dividend after fourth-quarter profit beat estimates on lower catastrophe-related costs.
Net income rose to about 1.2 billion euros ($1.6 billion) from 477 million euros reported a year before, the Munich-based company said in a statement today, citing “provisional calculations.” Profit exceeded the 954 million-euro average estimate of 11 analysts surveyed by Bloomberg.