Natural disasters set Munich Re back EUR 700m in Q1 2010.

(ADPnews) - Apr 28, 2010 - Earthquakes and thunder storms cost German reinsurer Munich Re (ETR:MUV2) around EUR 700 million (USD 921.5m) in the first quarter of 2010, the company said on Wednesday.

Munich Re still reckons with an average year in terms of insured losses though. In the fist quarter the China earthquake set the company back EUR 500 million, a whole EUR 100 more than anticipated. Furthermore, the company had to cover …