Ergo increases long-term profit target amid revamp

Munich Re's primary insurer Ergo said it has achieved more
than half the 1,800 job cuts it was targeting as part of a
restructuring programme.
The carrier also noted that it was on track to deliver EUR100mn
($112mn) in net savings by year-end.
In an update on the so-called Ergo strategy programme (ESP), the
company said it would contribute more than EUR600mn to the
long-term annual net profit of Munich Re by 2021.
That is up from the EUR500mn target...