By Donato Paolo Mancini 
 

Munich Re (MUV2.XE) expects profit in 2019 and 2020 to continue to rise, reaching the medium-term profit guidance of 2.8 billion euros ($3.2 billion) in 2020, the insurer said late Tuesday.

The company is targeting a EUR200 million rise in profit to around EUR2.5 billion for 2019, EUR2.1 billion of which is attributable to reinsurance.

Munich Re said this would allow it to propose an increase of its dividend to EUR9.25. The company expects gross premiums written of around EUR49 billion in the 2019 financial year.

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com; @donatopmancini

(END) Dow Jones Newswires

March 19, 2019 13:24 ET (17:24 GMT)