By Sarah Sloat

 

German reinsurer Munich Re AG said Thursday that it expects the large explosion that took place in Beirut this week to result in significant insurance claims for the company.

Munich Re can't estimate now how large such claims might be, Chief Financial Officer Vanessa Pitt said on a conference call on second-quarter earnings.

The explosion at Beirut's port on Tuesday killed over 100 people and caused billions of dollars in damages.

 

Write to Sarah Sloat at sarah.sloat@wsj.com

 

(END) Dow Jones Newswires

August 06, 2020 04:50 ET (08:50 GMT)

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