Execution research says that the buy back shows Munich Re believes market has stabilized.
Report from AM Best notes that in 2008, the underwriting and operating performance of surplus lines companies continued to outpace that of the total property/casualty industry, although at a diminished level from 2007.
Net income tumbles but underwriting results and investment returns improving.
However, chairman Lord Levene talks about "challenging" circumstances.
Let's look at ABC's share price