A rise in natural disasters has failed to dent Munich Re's prospects of a record annual result, with the reinsurer's profit passing €3.3 billion ($5.46 billion) in the first nine months of the year.

Despite a 13% drop in its reinsurance operating result to €3.2 billion - due to payouts from Hurricane Dean in August, earthquakes in Japan and Peru and flooding in the UK - Munich Re's profit is still slightly ahead of the €2.9 billion it made up to September last year.

This was despite the group's reinsurance combined ratio rising by nearly seven percentage points to 98%.

CFO Jörg Schneider says rises in the company's insurance operations through Ergo and strong investment returns had kept the company on track for a record year.

Investment returns rose to €7.6 billion ($12.58 billion), up by €500 million ($827 million) from the previous period, despite the group taking a €150 million ($248 million) hit on US subprime investments.