Munich Re’s shares dropped by around 5% this morning in Europe, after the reinsurer company reported a steep fall in its first-quarter net profit. The net result came in at €1.09 billion in the first quarter of 2025. This compares with €2.12bn in the previous year. According to the German reinsurer’s quarterly report, the drop in earnings was mainly driven by major claims and the volatility in the capital markets.
Wildfires in Los Angeles were the main source of a major loss of expenditure, costing the company €1.1bn.
