AMSTERDAM - MARCH 22, 2024 11:47 AM (EDT)
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Allianz SE (Allianz) (Germany) and its rated subsidiaries. Concurrently, AM Best has affirmed the Long-Term Issue Credit Ratings (Long-Term IR) on the outstanding rated debt instruments issued by Allianz, as well as on the outstanding rated debt instruments issued by Allianz Finance II B.V. and guaranteed by Allianz. The outlook for all of these Credit Ratings (ratings) is stable. (See below for a detailed listing of the companies and Long-Term IRs.)
The ratings reflect Allianz’s balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, very favourable business profile and appropriate enterprise risk management.
Allianz’s balance sheet strength is underpinned by risk-adjusted capitalisation, as measured by Best’s Capital Adequacy Ratio (BCAR), which is expected to remain at the strongest level for year-end 2023 and prospectively, supported by strong earnings generation and prudent capital management. The balance sheet strength assessment also benefits from the group’s robust asset-liability and liquidity management and prudent reserving practices and factors in its financial leverage and coverage ratios. Financial flexibility is considered excellent due to the group’s proven access to capital markets.
Allianz’s strong operating performance assessment reflects its highly diversified earnings profile and a track record of relatively stable and robust income. Allianz reported strong operating results in 2023, underpinned by solid returns from its diversified income streams, stringent underwriting discipline and effective expense management. The group benefited from a strong performance of its life business segment, as well as robust returns in its property/casualty segment, which benefited from rate increases. The group’s asset management business continued to provide positive earnings, as net inflows recovered in 2023, and the cost investment ratio remained stable. AM Best expects the group’s technical performance to remain strong over the cycle.
Allianz is one of the world’s largest insurance groups, with superior diversification by geography and business lines, as well as leading positions in many developed and emerging markets, offering a complete range of life and non-life insurance solutions and asset management services. The organisation’s competitive position is supported by its scale, strong management capabilities, dynamic strategy and brand recognition.
The FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) have been affirmed with stable outlooks for the following subsidiaries of Allianz SE:
Allianz Global Corporate & Specialty Resseguros Brasil S.A. Allianz Global Corporate & Specialty SE Allianz S.p.A. Allianz Risk Transfer AG Allianz Risk Transfer (Bermuda) Limited AWP P&C S.A. Jefferson Insurance Company AWP Health & Life S.A. Allianz Global Risks US Insurance Company Allianz Underwriters Insurance Company AGCS Marine Insurance Company American Automobile Insurance Company Euler Hermes North America Insurance Company (Allianz Trade) National Surety Corporation Chicago Insurance Company Fireman’s Fund Insurance Company Fireman’s Fund Indemnity Corporation Interstate Fire & Casualty Company Allianz Life Insurance Company of North America Allianz Life Insurance Company of New York Allianz México, S.A., Compañía de Seguros The following Long-Term IRs have been affirmed with stable outlooks:
Allianz Finance II B.V. (debt issues are guaranteed by Allianz SE)—
- “aa” (Superior) on EUR 750 million 3% senior unsecured bonds, due 2028
- “aa” (Superior) on GBP 750 million 4.5% senior unsecured bonds, due 2043
Allianz SE—
- “a+” (Excellent) on EUR 1.5 billion 3.375% perpetual junior subordinated bonds
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.
FAQs
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of “aa” (Superior) of Allianz SE (Allianz) (Germany) and its rated subsidiaries.
What is the rating of Allianz Global Corporate and Specialty SE A.M. Best? ›
//BestWire// - AM Best has affirmed the Financial Strength Rating of A+ (Superior) and the Long-Term Issuer Credit Rating of “aa” (Superior), of Allianz Global Corporate & Specialty Resseguros Brasil S.A. (AGCS Re Brazil) (São Paulo, Brazil). The outlook of these Credit Ratings (ratings) is stable.
What is A.M. Best rating for Alliance insurance? ›
OLDWICK, N.J., May 01, 2024--(BUSINESS WIRE)--AM Best has revised the outlook to positive from stable for the Financial Strength Rating (FSR) and revised the outlook to positive from negative for the Long-Term Issuer Credit Rating (Long-Term ICR) and affirmed the FSR of B (Fair) and the Long-Term ICR of "bb+" (Fair) of ...
What is the credit rating of Allianz? ›
The Standard & Poor's rating of AA (Very strong)
AA is the third-highest of 21 possible ratings and was affirmed in March 2023.
Is Allianz financially stable? ›
We offer financial strength. Any financial product is only as strong as the company behind it. That's why it's important that you work with a company you can trust for the long term. Allianz has maintained enviable cash reserves and a strong operating margin, in spite of continued economic turbulence.
What is the difference between Allianz and Allianz SE? ›
Allianz SE is the holding company of the Allianz Group and holds the legal form of a European company (Societas Europaea). The Societas Europaea is the legal form for stock corporations under European Law. The European company (also: Societas Europaea - SE) is a legal form for companies in the EU.
Are Allianz a good insurance company? ›
We were voted Best motor insurance provider by our customers in the Insurance choice awards 2023.
What is a bad AM Best insurance rating? ›
What is the A.M. Best rating scale?
- Superior: Rating: A+, Notches: A++
- Excellent: Rating: A, Notches: A-
- Good: Rating: B+, Notches: B++
- Fair: Rating: B, Notches: B-
- Marginal: Rating: C+, Notches: C++
- Weak: Rating: C, Notches: C-
- Poor: Rating: D.
AM Best has affirmed the Financial Strength Rating (FSR) of A+ (Superior) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of "aa" (Superior) of the members of The Progressive Corporation (Progressive) (Mayfield Village, OH) [NYSE: PGR].
What is the most accurate insurance company rating? ›
AM Best. The most well-known insurance specific rating company, the scores provided by AM Best are often considered the yardstick for financial strength in the industry. The highest rating offered is A++ (Superior) while the lowest is a D (Poor).
Allianz policies are often significantly less expensive than other policies for trips longer than 30 days, because they have a different pricing structure than most providers. Length of trip is one of the determining factors of a policy's premium. In most cases, the longer the trip, the more expensive the policy.
Where does Allianz rank? ›
Among the fastest growing global brands, Allianz moved up three positions to rank 31 in the overall Interbrand ranking of the top 100 global brands. “Our position in the Best Global Brands ranking is the strongest ever.
What is the reputation of Allianz? ›
Allianz is a popular choice among business travelers due to its AllTrips Executive travel insurance policy with coverage for lost, stolen or damaged business equipment and rental car insurance. Earning 4.1 out of 5 stars, our expert reviewers think Allianz is a great choice for international travel insurance.
What is Allianz weakness? ›
Allianz Weaknesses
Heavily dependent on automobile market. Stiff competition with other major players.
Who is Allianz owned by? ›
The parent company, Allianz SE, is headquartered in Munich, Germany. Allianz has more than 100 million customers worldwide and its services include property and casualty insurance, life and health insurance and asset management.
Who is Allianz biggest competitor? ›
Competitor comparison
- AXA SA Headquarters. France. 94,705. $92.0B.
- Zurich Insurance Group Ltd Headquarters. Switzerland. 59,593. $67.1B.
- Assicurazioni Generali SpA Headquarters. Italy. 81,879. $58.0B.
- American International Group Inc (AIG) Headquarters. 25,200. $46.7B.
The FSR of A+ (Superior) and the Long-Term ICRs of “aa” (Superior) have been affirmed with stable outlooks for the following subsidiaries of Allianz SE: Allianz Global Corporate & Specialty Resseguros Brasil S.A. Allianz S.p.A.
What is the number 1 global insurance brand? ›
Allianz is the #1 insurance brand globally.
