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French reinsurer's net profit declines nearly 70%

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France-based reinsurer Caisse Centrale de Reassurance S.A.'s net profit declined more than 68% to €45 million ($55.4 million) in 2017 from €141 million in 2016, Xprimm.com reported. The reinsurer recorded more than €2 billion in losses due to weather events such as drought on mainland France and hurricane Irma.

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