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Summary: Munich Re Group Sep 10
Standard & Poors, September 2010
The ratings on Germany-based global reinsurer Munich Reinsurance Co. and its related core entities (collectively, Munich Re) reflect the group's very strong competitive position, very strong capitalization and financial flexibility, and strong enterprise risk management (ERM), in Standard & Poor's Ratings Services' view. These factors are partly offset by the group's operating performance, which, although strong and resilient, is in our view a relative weakness for the rating, as well as by the unfavorable risk-return profile of Munich Re's domestic primary life insurance business. We view Munich Re's competitive position as very strong. Munich Re's competitive strength is predominantly founded on the group's position as a leading global reinsurer in property/casualty and life reinsurance, with a highly recognizable brand, superior...
Companies mentioned in this report are: Munich Reinsurance Co.
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
Munich Reinsurance Co.