Munich Re sees lower 2017 profit

Munich Re expects 2017 profit to fall to between EUR2.0bn to
EUR2.4bn ($2.1bn to $2.6bn) from EUR2.6bn in 2016.
The carrier issued the outlook on publishing its full 2016
results, as it promised a further EUR1bn of share buybacks by the
25 April 2018 annual general meeting (AGM)
Outgoing CEO Nikolaus von Bomhard warned the coming financial
year was set to be a "challenging environment".
Munich Re's core reinsurance operation reported a 54.5
percent drop in operating profits last year...