Munich Re reported a 6% increase in second-quarter net profit to €2.211 billion, beating analyst estimates of €1.786 billion as very low major loss claims offset pressure elsewhere. The German reinsurer kept its full-year profit target unchanged at €6.3 billion, but lowered its 2026 insurance revenue outlook to €62 billion from €64 billion after both volumes and prices declined in last month's reinsurance-contract renewals. It now expects 2026 reinsurance revenue of €38 billion, down from €40 billion previously.