Michaela Rehle/File Photo MUNICH Munich Re has forecast a group net profit of about €2.5bn ($2.84bn) for 2019. In its outlook for the year, the German reinsurer also revealed it expects profits to rise to €2.8bn next year and that it will buy back up to €1bn in its own shares. The company said on Tuesday that it would cut costs by cutting staff numbers from around 10,000 at present levels down to between 5,000 and 6,000.
Munich Re has forecast a group net profit of about €2.5bn ($2.84bn) for 2019. In its outlook for the year, the German reinsurer also revealed it expects profits to rise to €2.8bn next year and that it will buy back up to €1bn in its own shares. The company said on Tuesday that it would cut costs by cutting staff numbers from around 10,000 at present levels down to between 5,000 and 6,000.