0 minute readMunich Re, the world’s biggest reinsurer, plans to resume its share buyback after posting a first-quarter profit that beat estimates. The shares fell as the company signaled it may be harder to reach a full-year target. Munich Re will purchase as much as €1bn ($1.27bn) of its own stock by the 2011 annual shareholders’ meeting scheduled for April 20, 2011, it said in a statement today. First-quarter net income rose 11% to €482m, the Munich-based company said separately. The full-year profit forecast, which the reinsurer reiterated last month, has become “increasingly ambitious” following a number of claims from natural disasters.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
Most Popular Articles
Latest Articles
HousingWire Mortgage Rankings have arrived, bringing data-driven benchmark to originator performance
HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
