Facts and Figures
Munich Re’s Life and Health business in Canada is written by a well-established full service branch within the Munich Re Group. All reinsurance arrangements are supported by the financial strength of the OSFI regulated branch as well as the BaFin regulated company. This ensures we can deliver our value proposition to our clients, shareholders, and staff for the long term.
Munich Re, Canada (Life)
Munich Re, Canada (Life) is a leading reinsurer in Canada and has a significant market position in all lines of Life and Health reinsurance, serving clients across Canada and in the Caribbean from offices in Toronto and Montreal.
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OSFI LIFE 2 and LIMAT Key Figures (CGAAP)
|Investments in Marketable Securities||m||7,154||6,954||6,878||6,655||6,596|
|Average Investment Quality (S&P)||AA||AA||AA||AA||AA|
|Equity (Head Office A/C & AOCI)||m||3,848||3,981||3,915||3,769||3,393|
|Equity / Liabilities||%||133.4||172.0||151.3||129.3||111.0|
- Test of Adequacy of Assets and Margin (TAAM) was replaced by the Life Insurance Margin and Adequacy Test (LIMAT) by OSFI effective on January 1, 2018. Considering the significant changes between TAAM and LIMAT for capital measurement, the LIMAT ratios are not comparable to TAAM ratios.
In accordance with the Office of the Superintendent of Financial Institutions (OSFI), our LIMAT Ratios for the previous years can be viewed below. Branches are required, at minimum, to maintain a Total Ratio of 90%. OSFI has established supervisory target level of 100% for Total margin. Definition of terms can be found in Guideline A at LICAT – Life Insurance Capital Adequacy Test.
Munich Re Group
Our Canadian business is written by a well-established full service branch within the Munich Re Group, and supported by the financial strength of the OSFI regulated branch as well as the BaFin regulated company. Figures are reported by Munich Re's Annual Report.
Find out more about the Munich Re Group's ratings and solvency
Ratings | Outlook
|A. M. Best||A+ (Stable)||A+ (Stable)||A+ (Stable)||A+ (Stable)||A+ (Stable)|
|Fitch||AA (Stable)||AA (Stable)||AA (Stable)||AA (Stable)||AA (Stable)|
|Moody’s||Aa3 (Stable)||Aa3 (Stable)||Aa3 (Stable)||Aa3 (Stable)||Aa3 (Stable)|
|Standard & Poor’s||AA- (Stable)||AA- (Stable)||AA- (Stable)||AA- (Stable)||AA- (Stable)|
Key Figures (IFRS)
|Gross Premium Written||bn||51.5||49.1||49.1||48.9||50.4|
|Retun on Equity||%||9.2||8.4||1.3||8.1||10.0|
- Previous years‘ figures adjusted owing to IAS 8 “Changes in accounting policies and other adjustments“
Annual Report 2019
Learn more about the Munich Re Group in our Annual Report