Munich Re posts better-than-expected profit amid low loss claims

FRANKFURT, Aug 7 (Reuters) - German reinsurer Munich Re on Friday posted a 6% rise in net profit in the second quarter, defying expectations for a drop and lifted by low major loss claims. 

• Net profit in the quarter of €2.211 billion ($2.55 billion) compares with €2.085 billion a year ago.

• Analysts had expected net profit of €1.786 billion.

• Major loss costs were "very low" at 4.9% of insurance revenue, compared with an expected 18%, Munich Re said.

• It said that it was sticking to its full-year profit target of €6.3 billion.

• It trimmed its insurance revenue forecast to €38 billion from €40 billion.

($1 = 0.8679 euros)

(Reporting by Tom Sims and Alexander HuebnerEditing by Ludwig Burger)