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GLRE - Munich Re Posts EUR 589m Of Profit Despite EUR 892m Of Major Losses
Greenlight Reinsurance Ltd.
Global reinsurance giant Munich Re has reported a solid quarter of earnings for Q1 2021.
Natural catastrophe losses during Q1 amounted to EUR 646 million, well up on Q1 2020's EUR 208 million and above-average for the quarter.
Because of positive reinsurance market conditions, Munich Re has increased its target for reinsurance premiums from EUR 37 billion to EUR 39 billion for the year.