NU Online News Service, March 10, 3:49 p.m. EST

Munich Re said profit for 2009 exceeded $3 billion and it expects 2010 to be just as profitable, despite catastrophe losses from the Chile earthquake and a huge winter storm in Europe.

The Munich, Germany-based company released its official results for 2009 of net income of EUR2.56 billion ($3.49 billion at the current exchange rate) compared to EUR1.58 billion ($1.58 billion) in 2008. The company said those results matched preliminary figures released in early February.

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