Munich Re's net income jumps 30%

Munich Reinsurance Co.'s net income increased 32% year over year to €685 million ($747 million) in the third quarter from €520 million a year earlier, The Straits Times reported citing Bloomberg. In the first nine months, investment income grew 5.7% to €1.6 billion, while losses from natural disasters totaled €920 million. The reinsurer expects to "significantly” exceed its €2.3 billion full-year earnings target.

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