Catastrophes Drive Munich Re 1Q Loss Of Over $1B

Natural catastrophes took a toll on Munich Re’s first-quarter earnings as the company reports a net loss of €948 million (U.S. $1.36 billion at current exchange rate) compared to net income of €485 million ($695 million) for the same period last year.

By Mark E. Ruquet | Updated on May 16, 2011

Natural catastrophes took a toll on Munich Re’s first-quarter earnings as the company reports a net loss of €948 million (U.S. $1.36 billion at current exchange rate) compared to net income of €485 million ($695 million) for the same period last year.

The company reports a 50.2 point jump in its combined ratio to 159.4 in its reinsurance segment for the quarter.

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