Munich Re targets €2.5 billion for 2012

After reporting a €782 million profit for the first quarter of 2012, Munich Re has revealed its target for 2012 as being €2.5 billion.

The reinsurer’s chief financial officer, Jörg Schneider, said that despite the still difficult economic situation that the company was optimistic for 2012.

Schneider said that he was satisfied with the investment result.

"Our prudent and balanced investment policy continues to pay off. We have posted a strong return of 4.3 percent, and are well equipped to cope with all likely capital market scenarios,” he said.