Reinsurance expansion strengthens credit position of German and French insurers: Fitch

Joachim Wenning, head of the world's largest reinsurer Munich Re, has warned unaccustomedly of a "weakening of Europe". "These are quite many and powerful opponents who trample the future of us, our children and grandchildren," Wenning said in a pre-published speech to the upcoming general meeting of the company. Looking at the change of government in Germany, he warned that the German citizens would have to renounce "some of the beloved acquis"…

Reinsurance expansion strengthens credit position of German and French insurers: Fitch

Fitch Ratings, a provider of credit ratings, commentary and research, has said that the growing reinsurance activities of several German and French insurers are contributing to stronger credit profiles, provided the associated execution risks are well managed. In a new report, Fitch assesses the strategic move into reinsurance by eight European insurance groups and its impact on their financial strength, operational scale, and revenue diversity.…