Targets and assumptions set 2008

RoRaC target 2008: 15%
Assumption set 2008 Reinsurance Primary insurance
Gross premiums written €21.5–22.5bn €17.5–18.0bn
Currency environment stable
Normal major losses NatCat 6.5% NatCat n.a.
Combined ratio property-casualty below 98% below 95%
European Embedded Value Earnings in the range of 8–9% in the range of 8–9%
Return on investment 4.5%
Tax environment stable
Net profit €2.7–2.9bn €0.6-0.8bn
Consolidated net profit for the Group €3.0–3.4bn