Best: Munich Re' Non-Life Biz Improved
NU Online News Service, June 5, 3:18 p.m. EDT?A.M. Best Co., commenting after Munich Re reported first-quarter losses, said despite further write-offs in investment portfolios, the capitalization for the world's largest reinsurer remains "superior" and that its non-life reinsurance underwriting has improved over the past year.
The Oldwick, N.J.-based rating firm currently has "A-Double-Plus" (superior) financial strength rating for the Munich, Germany-headquartered reinsurer and its main subsidiaries.
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