Munich Re's reinsurance division operating profits down 19%
In 2013, according to Munich Re's preliminary results, operating profits at its reinsurance arm reduced from €4.3bn in 2012 to €3.5bn last year (a reduction from €3.1bn to €2.8bn in its consolidated result).
Munich Re blamed falling investment income for the result, but was helped overall by a signifcant decline in tax.
Premiums declined from €28.2bn to €27.8bn which Munich Re said was as a result of
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