S&P upgrades Munich Re's outlook

Standard and Poor's (S&P) has confirmed Munich Re's "AA-" long-term credit and financial strength rating. The outlook was raised from stable to positive.

Munich Re continues to benefit from favorable reinsurance pricing and maintains an excellent competitive position, according to the rating agency.

S&P expects Munich Re to post net profits between 4 billion EUR (4.4 billion USD) and 4.5 billion EUR (4.9 billion USD) in 2023 and 2024.