Munich Reinsurance America, Inc. - Corporate Responsibility - Financial Indicators

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Financial Indicators

Munich Re America Corporation is the holding company for various reinsurance and insurance entities which provide reinsurance, insurance and related services to insurance companies, commercial businesses, government agencies, and self-insurers in the United States. Munich Reinsurance America Inc. is the holding company’s principal subsidiary. Based in Delaware and founded in 1917, Munich Reinsurance America Inc. primarily underwrites property and casualty reinsurance.

Selected statutory financial data*

    2018 2017 2016 2015
Gross premiums written $m 5,505 5,783 5,279 6,670
Net premiums written $m 5,263 4,168 3,118 3,120
Net premiums earned $m 5,057 3,498 3,041 3,105
Loss & LAE incurred $m 3,835 2,965 1,989 1,937
Underwriting expense $m 1,856 1,337 1,018 1034
Underwriting result $m (634) (804) 35 133
Net income $m (398) (575) 337 475
Statutory Ratios          
Loss & LAE ratio % 75.8 84.8 65.4 62.4
Underwriting expense ratio % 35.3 32.0 32.6 33.1
Combined ratio % 111.1 116.8 98 95.5

Balance Sheet data

    12.31.2018 12.31.2017 12.31.2016 12.31.2015
Total admitted assets $m 18,330 18,698 17,841 17,642
Policyholders’ surplus $m 3,901 4,185 4,980 5,119
NAIC RBC ratio** % 298 341 435 437

Note: Includes the combined results of Munich Reinsurance America, Inc., American Alternative Insurance Corporation and The Princeton Excess and Surplus Lines Insurance Company.

Ratings of Munich Reinsurance America, Inc.

Rating agency Rating Outlook Last reviewed/affirmed
A.M. Best A+ (Superior) Stable July 13, 2018
Fitch AA (Very Strong) Stable July 4, 2018
Moody's Aa3 (Excellent) Stable December 6, 2018
Standard & Poor's AA- (Very Strong) Stable May 23, 2018

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