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Munich Re lifts guidance on lower major losses, despite €200m Maui wildfire hit

November 8, 2023

Munich Re has delivered another very strong quarter of results, helped by major losses and natural catastrophe costs coming in below expectation, which has enabled the reinsurance giant to lift its profit guidance for the full-year.

This is despite the company taking a relatively significant share of losses from the Maui wildfires in Hawaii, which it estimates cost it €200 million, as the costliest natural catastrophe for Munich Re in Q3.

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