A.M. Best Comments on Muenchener Rueckversicherungs' -Munich Re- 2004 Earnings.OLDWICK, N.J. -- A.M. Best Co. has commented that the ratings of Muenchener Rueckversicherungs (Munich Re Munich Re AG, in German Münchener Rück AG (ISIN: DE0008430026), is the world's second largest reinsurance company with over 5,000 customers in 160 countries and has its headquarters in Munich, Germany. ) are unaffected following Munich Re Group's announcement of EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 1.8 billion (USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 2.4 billion) consolidated post-tax profits for 2004, 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 The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. as evidenced at the January 2005 renewals. A.M. Best believes that Munich Re's return on equity target of 12% 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. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit http://www.ambest.com/ratings. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at http://www.ambest.com. |
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