A.M. Best Removes From Under Review and Upgrades Credit Ratings of Munich Reinsurance Company and Most of its Subsidiaries
The ratings were placed under review with positive implications on
The upgrades reflect A.M. Best’s opinion that the rating fundamentals of Munich Re, as analysed under the updated BCRM, are supportive of the revised Long-Term ICR. The ratings reflect Munich Re’s balance sheet strength, which
Munich Re’s balance sheet strength is underpinned by risk-adjusted capitalisation which, measured by Best’s Capital Adequacy Ratio, is comfortably in excess of the level required to support A.M. Best’s strongest assessment.
The strong operating performance assessment considers Munich Re’s robust shareholder returns, active cycle management and diversified earnings profile.
Munich Re is a leading global reinsurer. Its business profile benefits from excellent diversification, with the performance of its various life, health, property and casualty operations largely uncorrelated. The group’s strong global franchise, superior access to clients and considerable expertise provide some insulation against intensely competitive reinsurance market conditions.
The Long Term ICRs have been upgraded to “aa” from “aa-” and the FSRs of A+ (Superior) have been affirmed for
-
Great Lakes Insurance SE -
New Reinsurance Company Ltd. -
Munich Reinsurance America, Inc. -
The Princeton Excess & Surplus Lines Insurance Company -
American Alternative Insurance Corporation -
Munich American Reassurance Company -
Munich Reinsurance Company of Canada -
Temple Insurance Company -
American Modern Surplus Lines Insurance Company -
American Family Home Insurance Company -
American Modern Home Insurance Company -
American Modern Insurance Company of Florida, Inc. -
American Modern Lloyds Insurance Company -
American Modern Select Insurance Company -
American Southern Home Insurance Company -
American Western Home Insurance Company -
American Modern Property and Casualty Insurance Company
The following Long-Term IRs have been upgraded:
— to “aa-” from “a+” on
— to “a+” from “a” on
— to “a+” from “a” on
Munich Re America Corporation—
— to “a” from “a-” on
The following Long-Term IRs have been affirmed:
— “a+” on
The following Long-Term IRs have been assigned:
American Alternative Insurance Corporation—
— “a+” on
The Princeton Excess & Surplus Lines Insurance Company—
— “a+” on
This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media
use of Best’s Credit Ratings and
Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
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