• Net profit attributable to shareholders was up by 79% to €865m for Q3 19 • Investment result increased from €1.3bn for Q3 18 to €2.1bn for Q3 19 due to high disposal gains • P&C major-loss expenditure corresponded to 18.4% of net earned premium for Q3, which was significantly higher than the projected long-term average of 12% • Munich Re expects now to beat its target for the consolidated result of €2.5bn for FY2019