AM Best has affirmed the financial strength ratings of Munich Re.
The ratings agency revealed that the company's superior business position in the global reinsurance market had improved its financial strength.
It also highlighted a strong underwriting performance.
However, in outlining its assessment of the reinsurer, AM Best said its overall performance was "unsatisfactory".
AM Best also raised concerns over Munich Re's risk adjusted capitalisation which it said may "further deteriorate as a consequence of continued weak equity markets".
An AM Best statement revealed: "In addition, AM Best sees further potential for adverse developments in respect of asbestos and environmental related claims."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
