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Munich Re Beats Q1 Estimates on Fewer Big Claims

Munich Re expects net profit of more than 750 million euros ($989 million) in the first quarter, above expectations, helped by a drop in big damage claims and financial market tensions, its chief executive said on Thursday.

By Reuters | Updated on April 26, 2012

MUNICH, April 26 (Reuters) - Munich Re expects net profit of more than 750 million euros ($989 million) in the first quarter, above expectations, helped by a drop in big damage claims and financial market tensions, its chief executive said on Thursday.

The figure is well above the 681 million euro average expectation of analysts’ forecasts in data compiled by Thomson Reuters. Munich posted a loss of around 948 million euros in the year-earlier quarter.

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