Munich Re promises 2012 turnaround
Munich Re has claimed it has made a good start to 2012 and is aiming for a profit of around €2.5bn after announcing 2011 profit was slashed to €712m (2010: €2,430) in what it called "an extremely difficult environment".
The firm's reinsurance combined ratio was 113.6% (2010: 100.5%), and the reinsurance operating result amounted to €714m (2010: €2,943m).
Altogether, the reinsurance field of business accounted for
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