Munich Re gives up setting objectives for the year 2009

These are difficult times for Munich Re which came short of setting its 2009 objectives as it published its 2008 results. The world's number two has confirmed a profit of 1.5 billion EUR (2.1 billion USD) in 2008, that is, a 60.9% decrease in comparison with 2007. It has also stated that the initial objective of achieving 18 Euros (24 USD) profit per share in 2010 seems out of the picture.

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