Good results for Munich Re of Africa

Being a subsidiary of the German reinsurer, Munich Re of Africa (MRoA) has reported a gross premium volume of 2.6 billion ZAR (372.09 million USD) in 2005, that is, a 9% increase, and 277 million ZAR (39.6 million USD) in net profits, that is, a 7% increase compared to 2004. These good performances are accounted for by the soundness of the financial market and by the absence of natural catastrophes.