FRANKFURT (Reuters) - Munich Re reportedforecast-beating net profit of 972 million euros ($1.3 billion) inthe first quarter as low damage claims offset an 11 percent drop inincome from investments.
|The world's biggest reinsurer had been expected to postquarterly net profit after minorities of 931 million euros, theaverage of eight forecasts in a Reuters poll of banks andbrokerages showed.
|“After this good start, we are optimistic about achieving ourprofit target for the year of close to 3 billion euros,” ChiefFinancial Officer Joerg Schneider said in a statement onTuesday.
|($1 = 0.7659 euros) (Reporting by Jonathan Gould; Editing byMaria Sheahan)
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