TEL AVIV (MarketWatch) -- Munich Re /quotes/comstock/11i!murgy (MURGY 13.69, -0.08, -0.61%) /quotes/comstock/11e!fmuv2 (DE:MUV2 105.95, -1.60, -1.49%) reported that fourth-quarter consolidated profit jumped as gross and net premiums advanced. Consolidated profit was 780 million euros compared with 110 million euros in the year-earlier quarter. Gross premiums written climbed 6.9% to 10.38 billion euros from 9.71 billion euros. Net earned premiums reached 10.41 billion euros, up 8.2% from 9.63 billion. For 2010, Management Board Chairman Nikolaus von Bomhard said in a Wednesday statement, the company is targeting consolidated profit exceeding 2 billion euros, compared with the 2.56 billion posted for 2009. The target "remained achievable" despite the claims from the Chilean earthquake and Hurricane Xynthia, he said.
