NU Online News Service, May 10, 2:53 p.m. EDT–The world’s largest reinsurer, Munich Re, saw its quarterly profit improve 27 percent, bolstered by the company’s sale of investment assets, but underwriting results declined compared to year-ago figures.

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

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