Munich Re has reported gross written premium (GWP) of €11.4 billion ($15.6 billion) for the third quarter ending September 30 this year.

This was a 10.5% increase on the corresponding period in 2009 which saw €10.3 billion ($14.1 billion) in GWP.

This gave the insurer an operating profit of €1.14 billion ($1.56 billion) for the September quarter.

The strong premium performance came from Munich’s general insurance business, which saw GWP grow by 10.2% to €4.2 billion ($5.7 billion).

Reinsurance also delivered a positive result for the quarter, with GWP up 7.8% to €6 billion ($8.2 billion) compared to €5.6 billion ($7.68 billion) in the third quarter last year.

The reinsurance business reported a €602 million ($826.4 million) operating profit for the quarter despite incurring major losses, including earthquakes in Chile and NZ.

During the first nine months of this year, Munich Re incurred €1.1 billion ($1.5 billion) in losses from natural disasters and during the September quarter, losses from man-made major events were €53 million ($72.7 million) stemming mainly from the Christchurch earthquake.