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S&P Affirms Allianz Risk Transfer Ratings

On June 19, 2013, Standard & Poor’s Rating Services (S&P) affirmed its ‘AA-’ insurer financial strength ratings on Allianz Risk Transfer AG (ART) and its guaranteed subsidiaries, following a review under recently revised insurance criteria. The outlook on the ratings is ‘stable’.

In its rating report, S&P commented positively on ART’s strategic importance to its parent Allianz SE, its “strong business risk profile”,  “strong franchise in the nontraditional alternative risk transfer segment” and “exceptional” liquidity.  Additional key factors for the ART rating include S&P’s positive assessment of ART's enterprise risk management (ERM) based on its integration within the AZSE framework and strong management and governance practices.

S&P highlighted ART’s strong competitive position based on its “expertise in restructuring and its reputation as a consistent source of financially strong risk capacity.”  In addition, the rating agency noted ART’s “strong product and geographic diversity” as differentiators from peers.

As a “strategically important” subsidiary of Allianz SE (AZSE), the ratings of ART reflect group support, but are capped at one notch below the ratings on AZSE's core operating entities such as Allianz Global Corporate & Specialty.

The affirmation of ART’s rating was announced by S&P in a news release, which is accessible on the S&P website (registered users only). This rating is S&P’s opinion of ART’s financial strength and ability to meet its ongoing insurance policy and contract obligations. Financial strength rating is the most commonly quoted rating measure for insurance companies.

S&P determines its ratings using the S&P Ratings Methodology.