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Masked protesters in Sao Paulo, Brazil hold up signs that say "There will be no World Cup." (AP Photo/Dario Lopez-Mills)

(Bloomberg) — Munich Re has as much as $400 million on the line insuring against delays or cancellations of World Cup matches. The world’s largest reinsurer is counting on Brazilian President Dilma Rousseff to do whatever it takes to avoid the embarrassment that would result from interruptions.

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