Following the publication of Munich Re’s 2004 results (see previous article), A.M. Best Co. issued a comment that its ratings on the group are unaffected following the announcement. Best noted that they were “in line with the revised earnings forecast issued in January 2005.”
“Munich Re is benefiting from a relatively stable pricing environment in non-life reinsurance as evidenced at the January 2005 renewals,” said Best.
The rating agency said it “believes that Munich Re’s return on equity target of 12 percent for 2005 remains feasible provided that the company continues to improve earnings from its primary insurance operations, and that claims pattern for US liability lines do not change.”
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