Munich Re shares traded down 5.3 percent today (28 April) to EUR164.8 from yesterday’s closing price of EUR174, as investors continued to digest the company’s warning on Q1 earnings.
The reinsurer’s stock is now off 9.3 percent from Tuesday’s (26 April) closing price of EUR181 prior to the profits warning from CEO Nikolaus von Bomhard.
The executive warned attendees at the reinsurer’s annual general meeting (AGM) yesterday that first quarter profits would be “well below” its expectations.
The carrier benefited…Read more at The Insurance Insider