{"id":2051,"date":"2012-11-09T23:20:27","date_gmt":"2012-11-09T21:20:27","guid":{"rendered":"http:\/\/ourblog.greenwoods.org\/?p=2051"},"modified":"2012-11-09T23:20:27","modified_gmt":"2012-11-09T21:20:27","slug":"munich-reinsurance-co-reports-profits-of-3-51b-for-first-nine-months-of-2012","status":"publish","type":"post","link":"https:\/\/greenwoods.org\/munich-reinsurance-co-reports-profits-of-3-51b-for-first-nine-months-of-2012\/","title":{"rendered":"Munich Reinsurance Co. reports profits of $3.51B for first nine months of 2012"},"content":{"rendered":"<p><a href=\"http:\/\/ourblog.greenwoods.org\/munich-reinsurance-co-reports-profits-of-3-51b-for-first-nine-months-of-2012\/munich-reinsurance-2012-profits-jpgmaxw200maxh200\/\" rel=\"attachment wp-att-2052\"><img decoding=\"async\" class=\"alignleft size-thumbnail wp-image-2052\" title=\"munich-reinsurance-2012-profits.jpg&amp;maxw=200&amp;maxh=200\" alt=\"\" src=\"http:\/\/greenwoods.org\/wp-content\/uploads\/2012\/11\/munich-reinsurance-2012-profits.jpgmaxw200maxh200-150x150.jpg\" width=\"150\" height=\"150\" srcset=\"https:\/\/greenwoods.org\/wp-content\/uploads\/2012\/11\/munich-reinsurance-2012-profits.jpgmaxw200maxh200-66x66.jpg 66w, https:\/\/greenwoods.org\/wp-content\/uploads\/2012\/11\/munich-reinsurance-2012-profits.jpgmaxw200maxh200-150x150.jpg 150w, https:\/\/greenwoods.org\/wp-content\/uploads\/2012\/11\/munich-reinsurance-2012-profits.jpgmaxw200maxh200.jpg 200w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>Munich Reinsurance Co. reported profits of $3.51B for first nine months of 2012.<\/p>\n<p>Citing unusually low claims costs for natural catastrophes, Munich Reinsurance Co. on Wednesday reported net income of \u20ac2.73 billion ($3.51 billion) for the first nine months of 2012, a 3,312.5% increase over the prior-year period.<\/p>\n<p>The Munich-based insurer and reinsurer&#8217;s gross written premiums grew 5.3% in the nine-month period to \u20ac39.13 billion ($50.24 billion). Munich Re&#8217;s combined ratio for its reinsurance unit improved to 93.6% from 118.1% in the nine-month period, while the combined ratio of its primary insurance unit improved to 96.9% from 98.2%.<\/p>\n<p>Munich Re reported net income of \u20ac1.13 billion ($1.45 billion) for the third quarter, an increase of 295.1% over the same period a year ago. Gross written premiums grew 8.3% to \u20ac13.24 billion ($17 billion). The company&#8217;s combined ratio for its reinsurance unit was 89.4%, compared with 87.3% in the third quarter of 2011, while the combined ratio for its primary insurance unit improved to 100.3% from 102.7%.<\/p>\n<p>\u201cOur forward-looking risk management, prudent investment policy and profit-oriented underwriting approach are proving particularly effective in this difficult macroeconomic climate,\u201d Munich Re Chief Financial Officer J\u00f6rg Schneider said in a statement.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Munich Reinsurance Co. reported profits of $3.51B for first nine months of 2012. Citing unusually low claims costs for natural catastrophes, Munich Reinsurance Co. on Wednesday reported net income of \u20ac2.73 billion ($3.51 billion) for the first nine months of 2012, a 3,312.5% increase over the prior-year period. The Munich-based insurer and reinsurer&#8217;s gross written [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[50],"tags":[],"_links":{"self":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts\/2051"}],"collection":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/comments?post=2051"}],"version-history":[{"count":0,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/posts\/2051\/revisions"}],"wp:attachment":[{"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/media?parent=2051"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/categories?post=2051"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/greenwoods.org\/wp-json\/wp\/v2\/tags?post=2051"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}