Market responds positively to Munich Re's maintenance of ROE targets

Munich Re says the impact of the latest reserve action will only be partially felt at group level, where general provision had already been made for long-tail losses

Market responds positively to Munich Re's maintenance of ROE targets

Around three-quarters of the insurance stocks monitored by WIR closed higher on the fortnight ending 21 July. Best performer was Swiss-based reinsurer Converium, which finished the fortnight 13% higher at SF11.6, while the biggest faller was Japanese insurer Sompo, which closed 4% down at ¥1,065.