NU Online News Service, Feb. 2, 3:27 p.m. EST
Munich Re reported fourth-quarter profit jumped 591 percent, helped by the combination of improvements in its investment portfolio and extraordinarily low natural catastrophe losses.
The Munich, Germany-based reinsurance company reported, "on the basis of preliminary calculations," profit of EUR78 million ($1.09 billion U.S. at the current exchange rate) for the fourth quarter of 2009, compared to EUR11 million ($14 million U.S. at the exchange rate in 2008).
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