Munich Re had two of its ratings downgraded by Fitch this week. The reinsurer's financial strength rating and long-term rating were both downgraded from AA+ to AA. Fitch said the outlook remained negative.
The downgrades followed the reinsurer's warning that it expected its first annual loss in nearly a century.
In its third quarter results, Munich Re announced profits of £106m, but this followed five consecutive quarterly losses. A statement said the company expected to record a post-tax loss for the year 2003. Munich Re said it had been hit by claims from Hurricane Isabel hitting the US east coast in September, Typhoon Maemi in South Korea and Hurricane Fabian.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
