Munich Re’s shareholders are breathing a sigh of relief this week – sort of.
The reinsurance company announced Tuesday that its stock would be paying out a higher dividend yield this year than any other company trading on Germany’s blue-chip DAX. Yet still there was disappointment in the markets. The Munich-based company’s stock was the biggest loser among Germany‘s top 30 companies as it posted results Tuesday morning, before recovering most of the gains again in the afternoon.
Welcome to the confusing world of Munich Re. The world’s biggest reinsurer is caught in a huge overhaul right now, both in public and internally.