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Two weeks ago, Munich RE CEO Nikolaus von Bomhard summed up the company’s 2010 results: “It was not an easy year given the high burdens from major losses, but we were nevertheless able to bring it to a successful close.” The same might not be said for 2011.

NU Online News Service, March 22, 3:12 p.m. EDT

Due to the earthquake and tsunami in Japan, Munich Re says it will not reach its profit target for 2011 after reporting an expected loss of more $2 billion from the event.

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