After the terrorist attacks: US rating agencies affirm their top ratings for Munich Re

MUNICH, October 5, 2001—The US rating agencies, A.M. Best and Standard & Poor’s, have reviewed their assessments of insurance and reinsurance companies following the terrorist attacks in the USA and have affirmed their respective top ratings of A++ (Superior) and AAA/Stable for the Munich Re Group.

A.M. Best, which specializes in the rating of insurance companies worldwide, says its top grading for Munich Re recognizes the Group’s “exceptional capitalization.” It also underlines the strength of the Group’s structure, with primary insurance providing “a counterbalance to the volatility associated with the reinsurance sector” and asset management business “rounding out the product diversification.”

Standard & Poor’s stresses Munich Re’s business position as a leading reinsurer worldwide, its capital strength and its financial flexibility, all of which are classified as “extremely strong.” In addition, the rating agency singles out the Munich Re Group’s “comprehensive underwriting skills” and assesses the restructuring of its strategic share holdings as “positive and a clear strategic move toward the group’s aspiration to be one of the leading risk carriers and providers of financial services.”

Munich Reinsurance Company

See also Position of US reinsurance subsidiaries to be strengthened by capital injections