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Article: A.M. Best Affirms Ratings of Allianz Societas Europaea and Its Main Subsidiaries.
- Article from:
- Health & Beauty Close-Up
- Article date:
- March 14, 2009
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A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and the issuer credit rating (ICR) of "aa" of Allianz Societas Europaea (Allianz SE) (Germany) and its main subsidiaries.
The outlook for all ratings is stable. (See below for a complete listing of companies and debt instruments.)
The ratings of Allianz SE reflect its very strong business position and strong capitalisation. Financial performance deteriorated significantly in 2008; however, underlying operating performance remained robust considering the prevailing market conditions.
Allianz SE reported a significant decline in operating profit of approximately 28 ...