Munich Re raises full-year profit guidance after stronger-than-expected quarter

FRANKFURT, Oct 23 (Reuters) - German reinsurer Munich Re on Friday posted better-than-expected net profit in the third quarter and raised its full-year profit guidance.

• It now sees full-year net profit of €6.6 billion ($7.4 billion), up from previous expectations of €6.3 billion

• Munich Re also said net profit in the third quarter was around €1.7 billion, ahead of analyst expectations of €1.479 billion

• The reinsurer attributed the strong quarter in part to lower-than-expected major loss claims and a strong investment result

• Munich Re made the unscheduled announcement ahead of its detailed earnings planned for November 12

($1 = 0.8932 euros)

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