-- Frankfurt, July 25 (Xinhua younger brother Lu Xun of the new group) the world's second largest reinsurance company Munich Reinsurance on the 25th announced disappointing financial data and look at empty earnings prospects, the sharp decline in its stock price the day more than 10 percent, the biggest since a 2003 One-day drop.
Data show that Munich Re insurance in the second quarter earnings down 48 percent, only 600 million euros. At the same time, the company will this year profit forecast from the previous 3000000000 -34 100 million euros down to around 2 billion euros.
Munich Re said that this year the capital market in particular, poor stock market performance, the investment company is the main reason for the sharp decline. As the stock market remains volatile, the company indicated that he did not rule out the possibility of further stock of assets by the possibility. Munich Re is the world's largest capital market investors of a total investment of more than 160 billion euros, of which investment in shares of the total investment of about 7 percent.
However, Munich Re's main fixed-income assets investment in the securities class performance SHANG Jia, the United States so far has not been the loan-to-the obvious impact of the crisis.
In addition, Germany's second-largest, the world's fourth largest reinsurance company Hannover Reinsurance also hinted that day, because of poor return on the capital market, the company could cut annual earnings forecast.
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