Munich Re Sees 2016 Profit of 2.3 Billion Euros
Munich Re, the world’s second-biggest reinsurer, cut its full-year profit target to 2.3 billion euros ($2.6 billion) from a previous range of 2.3 billion euros to 2.8 billion euros after a drop in first-quarter earnings. Net income declined to 430 million euros in the quarter from 790 million euros a year ago, the Munich-based company said in a statement on Tuesday. Chief Finance Officer Joerg Schneider joined Bloomberg's Anna Edwards in London on "Countdown."
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