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Ratings - Survival of the fittest.
(From Reinsurance)
By Knut Schaefer.
For people outside Germany it is hard to appreciate quite what an impact the current row over reinsurance ratings is having on its insurance industry. To say that it is the big talking point in the country would be an understatement.
Germany has the oldest reinsurance industry in the world and, of course, many of the biggest reinsurers. In stark contrast, the German insurance industry is highly fragmented and has largely resisted the recent trend towards consolidation. There are more than 300 non-life insurers, most of them mutuals. Many of them are highly localised or specialist. Although they often ...
- S&P downgrades Munich Re.
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. September 1, 2003 700+ words
...reinsurers, downgraded Munich Re to "A-plus" from...last week, followed Munich Re's half-yearly results...past year a number of rating agencies have lowered their evaluations...s Swiss Re. But, Munich Re said the S&P...
- Hard market helps European reinsurers; Munich Re reports net loss, but Swiss...
- Magazine article from: Business Insurance September 1, 2003 700+ words
...was hit by downgrades from rating agencies, which maintain a negative...Munich, Germany-based Munich Re reported a net loss of 603...Corp. lowered its rating of Munich Re two notches to A+ from AA...notch to A+ from A++. Munich Re blamed its loss largely on...
- Munich Re may seek [euro]4bn cushion.
- Newspaper article from: Financial News August 26, 2003 700+ words
Munich Re is preparing its second big capital-raising of the year - a move in which the world's...working to a deadline of October when its AA- credit rating will come under pressure from rating agencies at annual reviews.
- Post Sept. 11 opinions: Rating agencies send out similar warnings.
- Newspaper article from: Asset Securitization Report Gregory, Michael October 1, 2001 700+ words
...Like most other sectors that the rating agencies are watching closely, 12b...subprime As of last week, all three rating agencies had either taken action on...being closely watched include Munich Re, Partner Re, Swiss Re, American...
- Syndicates' losses prompt concerns; Rating agencies changing...
- Magazine article from: Business Insurance Veysey, Sarah September 29, 2003 700+ words
Byline: SARAH VEYSEY LONDON-Although rating agencies are predicting solid profits from Lloyd's of London for...Faraday Underwriting Ltd. syndicate 435, to 2pi from 3pi; Munich Re Underwriting syndicate 457, to 2pi from 3pi; SVB Syndicates...
- Bad rating for rating agencies; City Comment.
- Newspaper article from: The Evening Standard (London, England) November 11, 2003 700+ words
...For example, in current conditions the agencies effectively have the power of life and death over insurance companies. Even Munich Re, one of the biggest names in global insurance, lost its battle with Standard & Poor's and was effectively forced...
- Munich Re bolsters foothold in U.S. (purchases American Reinsurance Co.)
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. August 19, 1996 700+ words
LONDON--Munich Re, the world's largest reinsurer...3.3 billion. Given the fact that Munich Re is paying over three times American...London-based insurance analysts said Munich Re paid an exorbitant price just to get...
- Munich Re acquires American Re. (Munich Reinsurance Co.; American Re Corp.)
- Magazine article from: Business Insurance Greenwald, Judy August 19, 1996 700+ words
...year, American Re will merge with a Munich Re subsidiary but retain its name and headquarters...totaling $1.61 billion (BI, April 1). Munich Re is the world's largest reinsurer...companies are direct reinsurers. Based on Munich Re officials' estimated projections of...