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American Re Reserve

Munich Re announced last week that it would boost reserves for its American Re subsidiary by $1.6 billion to cover U.S. casualty and asbestos ...

By Steven Tuckey | Updated on July 24, 2005

Munich Re announced last week that it would boost reserves for its American Re subsidiary by $1.6 billion to cover U.S. casualty and asbestos policies.

Chief Executive Officer Nikolaus von Bomhard said Munich Re will maintain its targeted return on equity of 12 percent. He said the Princeton, N.J.-based American Re will remain the core for its parent company.

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