An insurer employing more than 3,500 worldwide received a vote of confidence from two rating agencies yesterday, reaffirming that company’s financial strength.
Allianz Global Corporate & Specialty (
AGCS) received a rating upgrade from A.M. Best, with
Allianz Risk Transfer AG’s financial strength rating now at A+ (superior), along with an affirmation of
AGCS SE and
AGCS companies in the U.S. ratings of A+ with a stable outlook.
“We are delighted that both rating agencies have again stressed their confidence in AGCS’s financial strength,” said Axel Theis, CEO of AGCS SE. “A.M. Best’s upgrade of Allianz Risk Transfer’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 upgraded its rating of Allianz Fire and Marine Insurance Japan Ltd. (AZFM) – the entity under which AGCS operates in Japan – to ‘AA’ with a 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.
Recent updates by A.M. Best have confirmed the strong ratings of Allianz Global Corporate & Specialty SE (AGCS SE), the global industrial insurer of the Allianz Group, including an upgrade for its Swiss-based alternative risk transfer specialist, Allianz Risk Transfer AG (ART) to A+ (superior) with stable outlook.
A.M. Best affirmed the financial strength rating of A+ (superior), outlook stable, of AGCS SE and its North American entities Allianz Global Risks U.S. Insurance Company, Allianz Underwriters Insurance Company and AGCS Marine Insurance Company. In addition, the agency upgraded ART’s financial strength rating to A+ (superior) with stable outlook from A (excellent). (continued.)
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AGCS is the Allianz Group's dedicated carrier for corporate and specialty insurance business. AGCS provides insurance and risk consultancy across the whole spectrum of specialty, alternative risk transfer and corporate business: marine, aviation (including space), energy, engineering, financial lines (incl. D&O), liability and property insurance, as well as international insurance programs.
AGCS operates in 28 countries with own units and in more than 160 countries through the Allianz Group network and partners. It employs more than 3,500 people and provides insurance solutions to more than half of the Fortune Global 500 companies.
