BERLIN, Nov. 5 (Xinhua) -- German reinsurance group Munich Re reported on Thursday a 77 percent year-on-year drop in net profits to 199 million euros (235.2 million U.S. dollars) for the third quarter (Q3) of this year.
The company's COVID-19-related damages from the cancelation or postponement of major events as well as business interruptions totaled 2.3 billion euros in the first nine month of 2020, the company said.
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