FRANKFURT (Reuters) – Munich Re, the world's biggest reinsurer, raised its dividend more than expected after below-average damage claims and surging investment income bolstered 2012 profit.
The company said on Tuesday it planned to raise its dividend for 2012 to 7 euros per share from 6.25 euros, exceeding consensus for 6.76 euros.
"That Munich Re increases the dividend even more than we had expected is clearly a sign of confidence in the capital base and future earnings power," said DZ Bank analyst Thorsten Wenzel in a research note.
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