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Reinsurer Munich Re AG on Monday said it would pay $742 million to buy Hartford Steam Boiler from its embattled parent company, American International Group Inc.
Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.
Reinsurer Munich Re AG said Wednesday the company's second-quarter net profit fell by 47 percent amid market turmoil and asset write-downs of 889 million euros ($1.38 billion).
Reinsurer Munich Re AG said Monday that its fourth-quarter profit slipped because of higher taxes, lower investments and a dip in premium income — but said it aimed to post more sales this year than last.
Reinsurer Munich Re AG said Wednesday it expects to post a bigger profit in 2007 than last year, beating its previous target of more than $5.17 billion.
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