Fitch Ratings has affirmed the AA insurer financial strength and long-term rating for Munich Re, but said the outlook on all ratings remained negative.
It said the rating reflected Munich Re's excellent market position, strong underwriting results from reinsurance business and balance sheet strengths.
Mitigating factors in the rating are continued concerns over market reserving levels in the US and overall group earnings that are not yet commensurate with the current rating level.
