Reinsurance giant Munich Re aims for huge profits despite LA fires

NAMPA / DPA

2025-01-22

Munich (dpa) - Despite the devastating wildfires in California and the associated costs, executives at Munich RE, the world's largest reinsurer, are still expecting a massive increase in profits in 2025. Munich Re's chief executive, Joachim Winning, confirmed the German company's target for net profits of ?6 billion ($6.3 billion) on Wednesday, even though Munich Re is expecting to take significant losses on the fires around Los Angeles. As a rei......

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