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Munich Re Warns Of Claims Losses; First-Half Net Rises

Munich Re reported that 2010 first-half net income rose 6 percent on the strength of investment income that rose 43 percent, but the Munich, Germany-based insurer warned that claims losses may cause challenges going forward.

By Mark E. Ruquet | Updated on August 03, 2010

NU Online News Service, Aug. 4, 3:32 p.m. EDT

Munich Re reported that 2010 first-half net income rose 6 percent on the strength of investment income that rose 43 percent, but the Munich, Germany-based insurer warned that claims losses may cause challenges going forward.

The company reported that net income for the 2010 first half rose EUR60 million ($79 million at the current exchange rate) to EUR1.2 billion ($1.6 billion).

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