Munich Re claims to post record 2007 net profit
German re-insurance giant Munich Re said Wednesday it was confident of reaching or exceeding its 2007 net profit target, which would be a new record, in a statement published on its Internet site.
By Agencies |
FRANKFURT: German re-insurance giant Munich Re said Wednesday it was confident of reaching or exceeding its 2007 net profit target, which would be a new record, in a statement published on its Internet site.
All of the group's divisions, including its Ergo direct insurance unit, contributed to the group's results, financial director Joerg Schneider said in a presentation from New York.
In November, Munich Re had already suggested it would beat its 2007 target of a record net profit somewhere between 3.5 and 3.8 billion euros (5.2-5.6 billion dollars).
In 2006, Munich Re posted a net profit of 3.53 billion euros.
All of the group's divisions, including its Ergo direct insurance unit, contributed to the group's results, financial director Joerg Schneider said in a presentation from New York.
In November, Munich Re had already suggested it would beat its 2007 target of a record net profit somewhere between 3.5 and 3.8 billion euros (5.2-5.6 billion dollars).
In 2006, Munich Re posted a net profit of 3.53 billion euros.
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