Finance boss says €2bn target “increasingly ambitious”
Munich Re chief financial officer Joerg Schneider says its target after-tax profit of above €2bn for 2010, is "increasingly ambitious," Dow Jones reports.
He said the company's target of a combined ratio of 97% in its property/casualty reinsurance business is "presumably not achievable" in 2010.
Schneider expects a return on investment below 4% for 2010 and that the high RoI--of 5.2%--achieved in the first quarter wasn't sustainable for the remainder of 2010.
Schneider confirmed the group's 2010 targets of gross premium income of between €43bn and €45bn. Munich Re's target of a 15% return on risk-adjusted capital over the business cycle stands, he told investors.
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The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
