Munich Re posts worse-than-expected third-quarter earnings after major claims

FRANKFURT (Reuters) – German reinsurer Munich Re on Tuesday said its net profit was about 900 million euros ($974.34 million) in the third quarter, less than analysts expected and following large claims related to natural disasters .

Net profit for the quarter compares with 1.169 billion euros a year ago. Analysts had expected net profit of 1.419 billion euros.

($1 = 0.9237 euros) (This story has been corrected to say “million” rather than “billion” in paragraph 1.)

(Reporting by Tom Sims; Editing by Rachel More)