American Re-opened wounds spoil Munich Re 2006 results
Giant reinsurer Munich Re’s bumper 2006 annual results have masked substantial further reserve increases at its US reinsurance business a year after the group said it had drawn a line under a painful reserve-strengthening exercise in its US subsidiary.
In the group's 2006 annual report it was disclosed that the American Re subsidiary, which has since been taken fully into the group and renamed Munich Re America, continued to shore up reserves
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