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Hannover Re's net profit rises nearly 40% despite large catastrophes

Profit up

Germany-based reinsurer Hannover Re SE's net profit increased more than 38% to €1 billion ($1.1 billion) in the third quarter, despite the impact of large catastrophes during the period, Artemis reported. The reinsurer expects to report a net income of €1.25 billion this year and €.2 billion in 2020.

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