Munich Re Posts Q1 Profit

Munich Re MURGY swung to a profit in the first quarter. Munich Re posted its quarterly earnings of 782 million euros ($1.02 billion), versus a loss of €948 million, in the year-ago quarter. Its earnings per share came in at €4.39, versus a loss of €5.28. Its gross premiums rose to €13.27 billion, from €12.98 billion. Munich Re shares closed at $14.09 yesterday.