Munich Re posts 48% drop in profit after Los Angeles wildfire claims
Net profit in the quarter of 1.094 billion euros compares with 2.115 billion euros a year earlier. Analysts had expected net profit of 1.112 billion euros.
The wildfires killed more than two dozen people and destroyed or damaged more than 16,000 structures, charring an area bigger than Paris.
Still, the reinsurer, the world's largest, said it was sticking to its net profit forecast for 2025 of 6 billion euros, up from 5.7 billion euros in 2024.
($1 = 0.8996 euros)
($1 = 0.9000 euros)
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