Munich Re has reported a 41.7% increase in profit to €979m, on the same quarter in 2005...
Munich Re has reported a 41.7% increase in its first quarter profits, to €979m.
The company said operating profit jumped 29.4% to €1,471m.
Jörg Schneider, member of the board of management, said: “We are in an even better position than at this point last year, despite the fact we had more major losses in this year's first quarter.
"The excellent quarterly result is a big step towards achieving our target for 2006 – a post-tax return of 15% on risk-adjusted capital.
"Thanks to very good results from our underwriting business and investments, we are already more than a third of the way there. And that's good, as experience shows that later quarters are more highly exposed."
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