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Munich Re says 'optimistic' for 2013

Munich Re, the world's biggest reinsurer, said Tuesday it expects business and earnings to be stable this year after bottom-line profit increased by more than fourfold in 2012."Even though the consolidation of state finances and high unemployment will result in slower economic momentum in many industrialised countries, we remain optimistic for our business," said chief executive Nikolaus von Bomhard."For 2013, we are aiming for a result of close to 3.0 billion euros ($3.9 billion)," he said.And assuming exchange rates remain stable, Munich Re "anticipates that for the financial year 2013 its g

Munich Re says profits quadrupled in 2012

Munich Re, the world's biggest reinsurer, said Tuesday its bottom-line profit increased by more than fourfold in 2012 on lower losses from natural catastrophes. Munich Re said in a statement it booked net profit of 3.2 billion euros ($4.3 billion) last year, compared with 0.71 billion euros a year earlier. Operating profit also more than quadrupled, soaring to 5.4 billion euros in 2012 from 1.2 billion euros in 2011 and gross premium income was up 5.1 percent at 52.0 billion euros, the statement said.

Munich Re says profits quadrupled in 2012

Munich Re, the world's biggest reinsurer, said Tuesday its bottom-line profit increased by more than four fold in 2012 on lower losses from natural catastrophes. Munich Re said in a statement it booked net profit of 3.2 billion euros ($4.3 billion) last year, compared with 0.71 billion euros a year earlier. Operating profit also more than quadrupled, soaring to 5.4 billion euros in 2012 from 1.2 billion euros in 2011 and gross premium income was up 5.1 percent at 52.0 billion euros, the statement said.
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