Standard & Poor's has changed the rating outlooks for Munich Reinsurance Co. and its U.S. affiliate American Re-Insurance from stable to positive and indicated the two firms might qualify for a "double-A" rating.
The decision won't come until year-end, S&P said, noting that a potential upgrade of current "A-plus" ratings is contingent on several factors impacting the Munich, Germany-based group.
In a statement released on Tuesday, S&P credit analyst Simon Marshall in London said such factors would include the satisfactory conclusion of S&P's review of group loss reserves, an assessment of enterprise risk management as at least strong, and continuing positive trends in earnings.
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