Entertainment Munich Re defies corona crisis with profit of billions
Atlético tries to grab opportunity to sign Luis Suárez
MADRID (AP) — It had been a quiet transfer window for Atlético Madrid. The Spanish club didn’t plan on making any big signings or selling any of its top players from last season. After all, it had just gone through one of its biggest revamps under coach Diego Simeone following the departure of key players such as Antoine Griezmann, Diego Godín and Filipe Luis. Following a transitional year with a series of new players, including Portuguese forward João Félix, Simeone had his squad set and was celebrating the opportunity to enter the new season without major squad changes.
Munich (Reuters) - For the world's largest reinsurer Munich Re, despite the corona pandemic and a violent hurricane season, it is enough to make a billion profit this year.
In the third quarter, net profit was around 200 million euros, less than a quarter of the previous year's figure of 865 million euros, like the Munich-based company Back on Tuesday announced. Damage related to the corona crisis alone - from the cancellation of major events to life insurance in the USA - made a total of 800 million euros from July to September. Overall, the pandemic and its consequences have cost the group around 2.2 billion euros. Nevertheless, Munich Re achieved a profit of around one (previous year: 2.5) billion euros in the first nine months. Rivals like Swiss Re, on the other hand, are writing deep red numbers in the corona crisis.
France records a record of more than 16,000 new corona infections
© JEFF PACHOUD One day after the further tightening of the corona measures in France, a record number of new infections was recorded there. Another 16,096 people tested positive within 24 hours. One day after the further tightening of the corona measures in France, a new record for infection cases has been set there. Another 16,096 people tested positive within 24 hours, as the central health authority announced on Thursday evening.
The stock exchange was relieved by the preliminary quarterly figures. Munich Re shares turned positive. CEO Joachim Wenning recently announced a vague profit forecast for autumn. Munich Re plans to announce the detailed quarterly figures on November 5th.
The wave of corona infections hits the reinsurer primarily through the cancellation of events such as pop concerts or the Olympic Games, but also through protection against temporary factory closures as a result of the pandemic. In contrast, payouts from life insurance policies, for which Munich Re would have to be responsible, especially in the USA, are hardly significant. "We are far from unexpectedly high numbers of victims," Wenning said. "As far as its lethality is concerned, the coronavirus is comparatively mild."
In addition, an unusual accumulation of hurricanes is looming this year. The damage from cyclones, forest fires and other catastrophes such as the explosion in the port of Beirut were above average in the quarter, said Munich Re. She calculates that she has to use twelve percent of her premium income from reinsurance for major claims. In the first half of the year it was already 18 percent. The primary insurance subsidiary Ergo, on the other hand, did well again.
Justin Turner tests positive for COVID-19, removed from Game 6 .
Justin Turner was pulled from Game 6 of the World Series after seven innings on Tuesday night, and the world found out the shocking reason why: Turner tested positive for COVID-19. © Tim Heitman-USA TODAY Sports Turner started and began the game for the Los Angeles Dodgers as the No. 3 hitter and third baseman. But he was pulled before the start of the eighth, with Enrique Hernandez going to second, Chris Taylor moving to left, and Edwin Rios playing third.There was no explanation for why Turner was removed until after the Dodgers won the World Series 3-1.