AM Best affirms Munich Re and subsidiaries' ratings

AM Best has confirmed the “A+” financial strength and “aa” long-term credit ratings of Munich Re and its subsidiaries. The outlook remains stable.

The rating reflects the German group's solid balance sheet, strong operating performance, highly favorable business profile and sound enterprise risk management.

The reinsurer closed the 2024 financial year with a net profit of 5.7 billion EUR (5.9 billion USD) and a return on equity (ROE) of 18.1%, as calculated by AM Best.

The rating agency also notes that the company's business profile is highly diversified, underpinned by its various life, health and property-casualty activities. Munich Re’s global footprint positions it well to benefit from improving conditions in the reinsurance market.