Investment downturn hits Munich Re Q3 profits

The world's biggest reinsurer Munich Re reported a 36
percent drop in its third quarter operating profit to EUR579mn
($632mn), on the back of lower investment results.
The group's investment result - not including
insurance-related investments - was down 8.3 percent to
EUR1.5bn.
Meanwhile, the firm's insurance-related investments fell to
a EUR322mn loss in the third quarter.
Munich Re's reinsurance division posted an operating profit
of EUR424mn, down 29.7 percent on the EUR603mn recorded in the