NU Online News Service, Aug. 10, 3:33 p.m. EDT

Higher than expected major losses in the 2010 first half led to a 28.3 percent decline in group net income for Hannover Re compared to the 2009 first half.

The Hannover, Germany-based reinsurer said group net income for the first half of 2010 was EUR311 million ($410.8 million at current exchange rate), compared to EUR434 million ($573.2 million) a year ago.

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