Financial services provider MLP is earning more than ever. In the first nine months, the company reached record highs in both total revenue, at 863m, and operating profit, at 87.1m, it said on Thursday. Business performed particularly well in asset management and property and casualty insurance, while the retirement and pension business generated stable revenue. Outgoing CEO Uwe Schroeder-Wildberg said investments in artificial intelligence, advisory quality and innovative product solutions were paying off. MLP raised its forecast at the beginning of October.
Schroeder-Wildberg is one of Germany’s longest-serving CEOs. On Wednesday, he announced that he would not extend his contract, which runs through the end of 2027. The supervisory board appointed Jan Berg as the 61-year-old’s successor, according to the company. Berg is currently responsible for the corporate clients business.
(Report by Christina Amann. Edited by Olaf Brenner. For questions, please contact our editorial team at Berlin.Newsroom@thomsonreuters.com (for politics and the economy) or Frankfurt.Newsroom@thomsonreuters.com (for companies and markets)