A.M. Best Comments on Munich Re's 2003 Year-End Results.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--March 17, 2004 A.M. Best Co. has commented that the financial strength rating of A+ (Superior) of 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. (Germany Germany (jûr`mənē), Ger. Deutschland, officially Federal Republic of Germany, republic (2005 est. pop. 82,431,000), 137,699 sq mi (356,733 sq km). ) remains unaffected following the release of year-end 2003 results in line with expectations. Munich Re's consolidated non-life underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. performance continues to improve, with excellent combined ratios in both 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. and primary insurance of 96.7% and 96.4%, respectively. However, earnings from the primary life segment remain under pressure from the volatility of equity markets and relatively high minimum guarantees. A.M. Best will closely monitor Munich Re's achievement of its profitability targets during 2004. 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 www.ambest.com. |
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