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Article: A.M. Best Places Rating of Allianz and Its Core Subsidiaries Under Review.
- Article from:
- Business Wire
- Article date:
- November 20, 2002
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Business Editors
OLDWICK, N.J.--(BUSINESS WIRE)--Nov. 20, 2002
A.M. Best Co. has placed the financial strength rating of A++ (Superior) of Allianz Aktiengesllschaft and its core subsidiaries (see list below) under review with negative implications.
At the same time, Allianz's debt ratings of "aa+" have been placed under review with negative implications.
The under review status reflects A.M. Best's need to review the ultimate effect on Allianz's consolidated risk-adjusted capital base of the recently announced higher than expected loss of EUR 2.5 billion (USD 4.2 billion) in the third quarter of 2002, further falls in equity market ...