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Munich Re says profits up in 2013

Munich Re, the world's leading reinsurer, said on Tuesday that it beat its own full-year forecasts and booked net profit of 3.3 billion euros ($4.5 billion) in 2013. "According to provisional calculations, Munich Re improved its consolidated result in 2013 to 3.3 billion euros from 3.2 billion euros the previous year," it said in a statement. In the fourth quarter alone, net profit more than doubled to 1.2 billion euros from 0.5 billion euros a year earlier.

2013 had lowest hurricane count since 1982, says insurance firm

By Chris Vellacott LONDON (Reuters) - The 2013 Atlantic storm season has proved one of the quietest in decades with the lowest number of hurricanes since 1982 and none of them considered 'major', according to insurance broker Willis Re. An unusually quiet hurricane season is significant for the insurance industry not only because there are fewer pay-outs for damage but also because it drives down reinsurance prices.

Hannover Re 'on track' to meeting full-year targets

German reinsurer Hannover Re said Tuesday it is "well on track" to achieving its full-year target after a positive third quarter and first nine months. "Hannover Re expressed considerable satisfaction with the development of its business in the first nine months of the year," the group said in a statement.

Munich Re reports earnings fall on natural disasters

The world's biggest reinsurer, Munich Re, said on Tuesday its second-quarter net profit fell sharply, weighted by the cost of floods and other natural disasters, but confirmed its targets for 2013. Earnings dropped 34.5 percent from the level a year before to 529 million euros ($702 million) between April and June, when the company paid out 605 million euros for damage from floods in Europe, Canada and elsewhere and a tornado in Oklahoma.

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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