Standard & Poor's has revised its outlook on Munich Re and its core operating entities to positive from stable.
In addition, the ratings agency affirmed the 'A+' counterparty credit and insurer financial strength ratings on Munich Re and its related core entities.
Standard & Poor's credit analyst Simon Marshall said: "The outlook revision reflects the significant progress the group has made in strengthening its underwriting, pricing, and risk-management processes.
"We consider that these improvements in management, along with the introduction of a performance culture, are permanent in nature and are a leading indicator of improved financial strength."
