Munich Re Claim: NOT IF, BUT HOW
EN
Assessment of the ability and willingness of debtors to meet their financial obligations.

The following ratings have been awarded to the notes and debentures issued by our Group:

Credit ratings

A.M. Best Fitch Moody's S&P
Münchener Rückversicherungs-Gesellschaft AG, 3.25%, 1,250m €, Subordinated Bond 2018/2049 A  A2 (hyb)
Münchener Rückversicherungs-Gesellschaft AG, 6.25%, € 900m, Subordinated Bond 2012/2042 a+ A A
Münchener Rückversicherungs-Gesellschaft AG, 6.625%, £ 450m, Subordinated Bond 2012/2042 a+ A A
Münchener Rückversicherungs-Gesellschaft AG, 6.00%, € 1,000m, Subordinated Bond 2011/2041 a+ A A
Munich Re America Corporation, 7.45%, US$ 342m, Senior Notes 1996/2026 a A+ A2 A-
Detailed information on the rating of individual Munich Re Group companies as well as general rating categories can be found on the websites of the rating agencies:
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