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Reweb - First seen on the Reinsurance website www.insurancewindow.net.
(From Reinsurance)
Munich Re made a loss of EUR603m in the first half of 2003, in contrast with the EUR4.1bn profit it made in the first six months of 2002. The fall in profits was blamed on a high provision for taxation in the second quarter, due to the current uncertainty in Germany over the tax treatment of losses on the sale of, and writedowns on, securities in equity funds following stockmarket losses. The company added that its core underwriting business was improving significantly. However, Standard & Poor's (S&P) has lowered Munich Re's financial strength rating from 'AA-' (very strong) to 'A+' (strong). According to S&P the downgrade reflects Munich Re's historic relative underperformance in non-life underwriting profitability and its slower than expected recovery in earnings.
The Gerling group plans to transfer the life reinsurance arm of Gerling ...
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- 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...
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- Press release article from: Business Wire September 10, 2002 700+ words
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- Magazine article from: The Economist (US) May 3, 2003 700+ words
...the world's largest insurers, and Munich Re, the world's biggest reinsurer. Both...Jurgen Schinzler, his counterpart at Munich Re since 1993, had said he would go at...probably connected to the state into which Munich Re has fallen. Last year the reinsurer...
- S&P downgrades Munich Re.
- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. September 1, 2003 700+ words
...hit a string of reinsurers, downgraded Munich Re to "A-plus" from "double A-minus...P downgrade, last week, followed Munich Re's half-yearly results, when the...Zurich, Switzerland's Swiss Re. But, Munich Re said the S&P downgrade was...
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- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Jennings, John September 9, 1991 700+ words
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- Magazine article from: National Underwriter Property & Casualty-Risk & Benefits Management Howard, Lisa S. October 27, 2003 700+ words
...of profitable growth opportunities. Munich Re said the market environment for reinsurance...s Ratings Services, which downgraded Munich Re on Aug. 27 to "A-plus" from "double...significantly improve the quantity and quality of Munich Re's capital when completed." In addition...
- A.M. Best Affirms Ratings of Munich Re.
- Press release article from: Business Wire November 7, 2006 700+ words
...aa-" of Muenchener Rueckversicherung (Munich Re) (Germany) and its rated subsidiaries...a" of the subordinated debt issued by Munich Re Finance B.V. and guaranteed by Munich Re. The outlook for all ratings remains negative...
- AIG Announces Sale of HSB Group to Munich Re.(Company overview)
- Press release article from: Business Wire December 22, 2008 700+ words
...subsidiary HSB Group, Inc. (HSB), to the Munich Re Group. HSB, the parent company of The...Under the terms of the transaction, Munich Re will acquire 100% of the outstanding...appropriate regulatory authorities. "Munich Re offers HSB new opportunities to grow...