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Munich Reinsurance Co. Jul 01
Standard & Poors, July 2001
The ratings on Munich Reinsurance Co. (MRC) and related entities (collectively Munich Re) are based on Munich Re's unsurpassed global business position, supreme capital strength, and extremely strong financial flexibility. Partially offsetting these strengths are the group's overall operating performance, which is less than excellent (although the increasing proportion of primary insurance business is generating more enduring profitability), and the asset concentration risk implicit in its stake in members of the Allianz Group. The ratings for the first time also apply to the core operating insurance companies of the ERGO insurance group, which is majority-owned by MRC. Munich Re is a leading reinsurer worldwide, with a first-class global reputation. It leads many of the markets in which it operates and,...
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
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Munich Reinsurance Co.,Munich Reins America Inc.,Munich Re America Corp.,Munich American Reassurance Co.,American Alternative Insurance Corp.,Diamond State Insurance Co. (Unsolicited Ratings),United National Specialty Insurance Co. (Unsolicited Ratings),United National Insurance Co. (Unsolicited Ratings),American Re Capital,Munich Reinsurance Co. of Australasia Ltd.,D.A.S. Legal Expenses Insurance Co. Ltd.,Great Lakes Reinsurance (U.K.) PLC,Hamburg-Mannheimer Sachversicherungs-AG,Munich Reinsurance Co. of Canada,Nieuwe Hollandse Lloyd Schadeverzekering Mij NV,The European Ins. Co. Ltd. (Unsolicited Ratings),VICTORIA Rueckversicherung AG,ERGO Versicherung AG,Muenchener Rueck Italia SpA,New Reinsurance Co.,ERGO Lebensversicherung AG,Victoria Lebensversicherung AG,Karlsruher Lebensversicherung AG (Old),Munich Reinsurance Co. of Africa Ltd.,Karlsruher Versicherung AG,STU Ergo Hestia S.A. (Unsolicited Ratings),DKV Deutsche Krankenversicherung AG,ERGO Versicherungsgruppe AG