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7 November 2024Reinsurance

Munich Re hit by Q3 cats, but ups 2024 profit target on L&H strength

Munich Re suffered a 1.6x increase in nat cat large loss in the third quarter, including €0.5 billion from Hurricane Helene that led to a 23% decline in Q3 earnings in P&C reinsurance. Yet improvements in other areas mean its full-year outlook was stronger than before.

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