NU Online News Service, Feb. 3, 3:00 p.m. EST
Munich Re reported its fourth-quarter 2010 profit was down 63 percent from the previous year's fourth quarter, while profit for the year was down 5 percent despite major losses during the fourth quarter.
The Munich, Germany-based reinsurer reported 2010 fourth-quarter profit of €480 million ($655 million at the current exchange rate), down €300 million ($410 million) from the same period during the prior year.
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