A.M. Best has upgraded the financial strength rating of Allianz Risk Transfer (ART), Allianz Group’s Swiss-based alternative risk transfer specialist, to A+ (Superior).
The ratings of Allianz Global Corporate & Specialty (AGCS) and AGCS SE have also been set at A+ (Superior) by A.M. Best, with the outlook stable for all three Aliianz subsidiaries.
In addition, Standard & Poor’s has upgraded the rating of AGCS in Japan to AA with a stable outlook.
“We are delighted that both rating agencies have again stressed their confidence in AGCS’s financial strength”, commented Axel Theis, CEO of AGCS SE.
“A.M. Best’s upgrade of [ART’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.”
Recently, Standard & Poor’s had already upgraded its rating of Allianz Fire and Marine Insurance Japan, 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.
