NU Online News Service, May 10, 2:53 p.m.EDT--The world's largest reinsurer, Munich Re, saw itsquarterly profit improve 27 percent, bolstered by the company'ssale of investment assets, but underwriting results declinedcompared to year-ago figures.

The Munich, Germany-based concern reported 688 million euros($883 million) for its 2005 first-quarter profit, up from 543million euros ($697 million) last year.

Munich Re said its sale of stakes in German truck maker MAN AGand mortgage lender BHW Holding AG helped strengthen its quarterlyinvestment result, which was up 32.5 percent to 2.457 billion euros($3.15 billion).

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