A.M. Best Co. has issued a comment indicating that the ratings of Germany’s Muenchener Rueckversicherungs-Gesellschaft (Munich Re) remain unchanged following the announcement that it intends to sell its 90.1 percent shareholding in Karlsruher Versicherungsgruppe to Wüstenrot & Württembergische.
“Munich Re’s ratings remain under review with negative implications as A.M. Best continues to assess the potential impact of the recent reserve strengthening at American Re (see related July 12, 2005 press release) and Hurricane Katrina (see related September 15, 2005 press release) on Munich Re’s consolidated risk-adjusted capitalisation, as well as consolidated earnings in 2005,” said the announcement.
Was this article valuable?
Here are more articles you may enjoy.
Georgia Teacher Killed When Toilet Paper Prank by Students Goes Wrong 
Insurify’s Founders Discuss Evolution of Insurance Shopping With AI 
US Offers $20 Billion Reinsurance Plan to Spur Gulf Oil Flow 
Indiana Church Not Owed Replacement-Cost Payment for Fire Damage 
