NIKOLAUS VON BOMHARD, NEW CHIEF EXECUTIVE OF GERMAN REINSURER MUNICH RE GIVES THE COMPANY'S ANNUAL NEWS CONFERENCE IN MUNICH. Nikolaus von Bomhard, new chief executive of German reinsurer Munich Re gives the company's annual news conference in Munich April 15, 2004. Munich Re said on Thursday that it hoped to return to a double-A credit rating by the end of the year. Bomhard said that he was hopeful of an upgrade after a downgrade to A-Plus by ratings agency Standard & Poor's last August. REUTERS/Alexandra Winkler REUTERS