NU Online News Service, May 10, 3:20 p.m. EDT
Munich Re reported a 2010 first-quarter net profit of EUR485 million ($620 million at current exchange rate), an 11 percent increase over the 2009 first-quarter net profit of EUR437 million ($558.6 million).
The Munich-based global reinsurer said high investment profits were the basis for the good quarterly result, offset some by the "unusually high" natural catastrophe burden in the quarter.
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