Munich Re Q1 net profit up 68%, in line with preliminary figures

Munich Re Q1 net profit up 68%, in line with preliminary figures

FRANKFURT (Reuters) – The German reinsurer Munich Re on Wednesday posted a 68% rise in the first quarter net profit, a level that was in line with preliminary figures published last month.

Net profit in the quarter of 2.140 billion euros ($2.30 billion) compares with 1.271 billion euros a year ago.

Analysts originally had expected net profit of 1.476 billion euros before the publication of the preliminary figures in April. ($1 = 0.9313 euros)

(Reporting by Tom Sims, editing by Andrey Sychev)