Munich Re's profits jump in 2009
Munich Re has reported that its profits rose to €2.56bn in 2009 from €1.58bn in 2008. The Germany-based reinsurance giant's fourth quarter profit also grew substantially, jumping to €0.78bn from €0.11bn in the fourth quarter of 2008.
Gross premiums written by the Group in the financial year 2009 rose strongly by slightly less than 10% to €41.4bn from €37.8bn the year before.
The group's reinsurance combined ratio fell to 95.3% (99
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