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Munich Re’s profit up by over 6%

Posted On: Nov. 9, 2023 9:10 AM CST

Munich Re

Germany-based Munich Reinsurance Co.’s net profit increased by 6.4% year-on-year to €1.17 billion ($1.25 billion) in the third quarter of this year, Morningstar reported. The reinsurer said that revenue from insurance contracts declined by 1.2% to €14.46 billion, while reinsurance revenue declined by 5.9% to €9.46 billion.