Munich Re posts 2016 net income of 2.6 billion euros, raises dividend

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German reinsurer Munich Re raised its dividend for 2016 by more than 4 percent to 8.61 euros per share, above 8.51 forecast in a poll of analysts.

The world's largest reinsurer said on Tuesday preliminary net profit for 2016 was around 2.6 billion euros ($2.8 billion), down 16 percent from a year earlier and below consensus for 2.7 billion in a company-compiled consensus forecast.

Analysts on average had expected Munich Re to raise its dividend to 8.51 euros per share, from 8.25 a year ago.