AGCS Re Brazil retains superior ratings

Parent firm's backing continues to play an important role

AGCS Re Brazil retains superior ratings


By Kenneth Araullo

Allianz Global Corporate & Specialty’s reinsurance division in Brazil has retained its superior ratings thanks to a strong performance.

AM Best has maintained its A+ (Superior) financial strength rating and “aa” (Superior) long-term issuer credit rating for Allianz Global Corporate & Specialty Resseguros Brasil SA (AGCS Re Brazil), based in São Paulo. The ratings agency has assigned a stable outlook to the ratings.

The ratings agency suggested the results point to AGCS Re Brazil’s role within the Allianz SE (Allianz) family, reflecting its foundational balance sheet strength, robust operational performance, highly favorable business standing, and well-suited enterprise risk management practices.

The stable outlook is anchored by AM Best’s expectation that AGCS Re Brazil’s risk-adjusted capitalization will continue to be classified at the highest level, bolstered by the company’s capital management and financial agility. AM Best noted that Allianz is poised to retain its status as a dominant force in the international insurance market, backed by its stable operational achievements.

The integration of AGCS Re Brazil’s operations and managerial functions with Allianz has historically aligned with and bolstered the group’s overarching strategy, facilitating entry into Brazil’s reinsurance market. The company is positioned to broaden its Latin American footprint, leveraging its status as a regional hub to capitalize on commercial and operational prospects, as well as synergies with Allianz’s retail ventures in Brazil, Argentina, Colombia, and Mexico.

The company’s operational performance has been marked by consistently positive financial results, attributed to its varied business mix.

AM Best expects the company’s risk-adjusted capitalization to remain robust, supported by internal excess of loss reinsurance arrangements and its stop loss policy.

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