Germany, Munich Re reduced its 2016 target

Following a profit in 2016 first quarter of 486.5 million USD, down by 45% compared to the same period in 2015, Munich Re has revised its projections for 2016.

The German reinsurer has announced a reduction of its objective of a (1) net income to 2.6 billion USD, which is the lowest portion of its forecasts, ranging between 2.6 and 3.1 billion USD.

(1) The new 2016 target takes into account the restructuring costs of the subsidiary Ergo.

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