Munich Re raises dividend despite results falling short of expectations

The reinsurer's net profit was €2.6bn for 2016, down from €3.1bn in 2015 and below analyst predictions for this year of €2.7bn. The reinsurer sustained losses of €232m for Hurricane Matthew and €251m for an earthquake in New Zealand. Discussing the proposed increase in the dividend, Jörg Schneider, chief financial officer of Munich Re said: "Munich Re is sticking to its shareholder-friendly and sustainable dividend policy. We are sure that we will be able to maintain this level of dividend and continue the trend of raising it in future." On the results of the January renewals, To...