A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Ohio-based American Modern Home Insurance Company (AMHIC) and its subsidiaries. The outlook for the ratings is stable. Germany’s Munich …
Last year’s flooding in Thailand is shaping up to be one of the worst natural disasters in human history, with insured losses alone estimated at more than $15 billion. Following is a list of expected losses reported by …
Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, Munich Re , the world’s biggest reinsurer, said on Wednesday. The cost to insurers from the earthquake and …
From Munich Re’s perspective, the recently concluded climate summit in Durban “yielded disappointing results that fail to reflect the world climate’s dramatic situation.” Prof. Peter Höppe, Head of Geo Risks Research at Munich Re, stated: “Durban has had the effect …
The widespread floods in Thailand, which reached their highest point in October and November, “are the costliest natural catastrophe in the country’s history,” according to a bulletin from Munich Re. “The economic losses are huge, since key industries are concentrated …
Insurers are bracing themselves for claims in excess of $10 billion after floods in Thailand disabled major foreign-owned manufacturing operations there, adding to an already record-breaking natural catastrophe bill this year. Analysts and industry executives say it is too soon …
Munich Re announced third-quarter profit “in a difficult environment” of €290 million [$400 million], compared to €761 million [$1.05 billion] in Q3 2010. The world’s largest reinsurer singled out the “financial markets, currency translation effects and heavy burdens from natural …
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Munich Reinsurance Company and its subsidiaries. Best also affirmed all of its debt ratings for Munich Re. The outlook …
A bulletin from Munich Re names the “sovereign debt crisis in Europe and the USA, a sustained phase of low interest rates and heavy natural catastrophe burdens,” as well as general uncertainty in the re/insurance markets as posing “significant challenges …
Munich Re, the world’s largest reinsurer, bounced back into the black during the second quarter of 2011, making profits of €738 million [$1.042 billion], an increase over the €709 million [$1 billion] posted during the same period in 2010. However, …
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