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Munich Re receives insurance license in Malta

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Munich Reinsurance Co. has received an insurance license from the Malta Financial Services Authority after setting up a protected cell company which will write business in the country, TimesofMalta.com reported. The reinsurer did not mention how it intends to use the insurance license offered by the jurisdiction. Peter Miehle, chief executive of Munich Re of Malta P.L.C., said that he could not comment about it due to the sensitivity of the issue, while a spokesperson for the reinsurer said that it was "a confidential business case."

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