A.M. Best upgrades Allianz Risk Transfer AG’s financial strength rating to A+ (Superior) with stable outlook
A.M. Best affirms strong ratings of AGCS SE and AGCS companies in the U.S.: financial strength rating A+ (Superior), stable outlook
S&P raises financial strength rating of AGCS in Japan to AA with stable outlook
PRESS RELEASE - Munich/New York/Zurich. 29 July 2014
Recent updates by A.M. Best have confirmed the strong ratings of Allianz Global Corporate & Specialty SE (AGCS SE), the global industrial insurer of the Allianz Group, including an upgrade for its Swiss-based alternative risk transfer specialist, Allianz Risk Transfer AG (ART) to A+ (Superior) with stable outlook. In addition, Standard & Poor’s has upgraded the rating of AGCS in Japan to AA with stable outlook
“We are delighted that both rating agencies have again stressed their confidence in AGCS’s financial strength”, comments Axel Theis, CEO of AGCS SE. “A.M. Best’s upgrade of Allianz Risk Transfer’s rating reflects this company’s success with our global clients looking for innovative solutions and ART’s growing strategic importance within AGCS’s portfolio of client services.”
A.M. Best affirmed the financial strength rating of A+ (Superior), outlook stable, of AGCS SE and its North American entities Allianz Global Risks U.S. Insurance Company, Allianz Underwriters Insurance Company and AGCS Marine Insurance Company. In addition, the agency upgraded ART’s financial strength rating to A+ (Superior) with stable outlook from A (Excellent).
Recently, Standard & Poor’s had already upgraded its rating of Allianz Fire and Marine Insurance Japan Ltd. (AZFM), the entity under which AGCS operates in Japan, to “AA” with stable outlook. This is above the sovereign ratings on Japan (AA-) and at the same level as the financial strength rating of the Allianz Group.