Standard & Poor's said today that the A+ rating and stable outlook on Munich Re are unaffected...
Standard & Poor's said today that the A+ rating and stable outlook on Munich Re are unaffected by the group's first quarter 2005 results.
Munich Re announced a first-quarter combined ratio for non-life reinsurance of 96.5%, with a group profit of €688m (£469m).
"The significant improvement in the reinsurance result demonstrates the actively managed organic reduction in premiums coupled with continuing attractive pricing available," said Standard & Poor's credit analyst Wolfgang Rief.
He went on: "The primary insurance result, although still in line with Standard & Poor's expectations, was negatively affected by increased losses due to European storms and to worse-than-average winter weather."
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.
