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Germany-headquartered Munich Re posted a 57% year-on-year increase in its first-quarter net result to 1.7 billion euros ($2 billion), Life Insurance International reported. The group’s reinsurance business generated a net result of €1.5 billion, up from €853 million a year earlier on the back of the loss ratio improving massively to 66.8% from 83.9% due to significantly lower claims payouts.
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