Analysts 'staggered' by Munich Re's EUR1bn Ergo overhaul

Munich Re's announcement that it planned to invest EUR1bn
into its insurance subsidiary Ergo as it slashes 1,800 jobs as part
of a massive overhaul has "staggered" Keefe, Bruyette
& Woods analyst William Hawkins.
Earlier today (1 June), Munich Re Group unveiled plans to overhaul
Ergo and invest significant funds over the next four years in a bid
to make the German primary carrier "fit for the future".
The Munich Re-owned insurer's CEO Markus Rieß said the
investment would be...