Disasters relief boosts Munich Re

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The Independent Online

The reinsurer Munich Re yesterday said the small amount of damage caused by natural disasters in the first half of 2012 helped offset the high losses from the first half of last year from earthquakes in Japan and New Zealand.

It said global losses to the end of June were $26bn (£17bn), of which $12bn were insured. By this time last year Munich Re said there were $302bn in losses.

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