A.M. Best Upgrades Credit Ratings of Allianz Global Corporate & Specialty Resseguros Brasil S.A.

OLDWICK, N.J.--()--A.M. Best has upgraded the Financial Strength Rating to A+ (Superior) from A (Excellent) and the Long-Term Issuer Credit Rating to “aa” from “a” of Allianz Global Corporate & Specialty Resseguros Brasil S.A. (AGCS Re Brasil) (Brazil). The outlook of these Credit Ratings (ratings) is stable.

The rating upgrades acknowledge the full integration of AGCS Re Brasil into the Allianz Global Corporate & Specialty (AGCS) segment and wider Allianz group through common management, systems and risk management infrastructure. AGCS Re Brasil maintains sufficient standalone capitalization, enhanced by intergroup reinsurance and capital support. AGCS Re Brasil serves as the Latin America hub for the AGCS segment, which focuses on large corporate risks and specialty products. The Allianz organization maintains superior diversification geographically and by insurance products that support Allianz’s excellent business profile. The group maintains a leading competitive position in numerous developed and emerging insurance markets and offers a complete range of life and non-life insurance products.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

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Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Guilherme (Guy) Monteiro Simoes, +1 908-439-2200, ext. 5301
Senior Financial Analyst
guy.simoes@ambest.com
or
Scott Mangan, +1 908-439-2200, ext. 5593
Senior Financial Analyst
scott.mangan@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com

Contacts

A.M. Best
Guilherme (Guy) Monteiro Simoes, +1 908-439-2200, ext. 5301
Senior Financial Analyst
guy.simoes@ambest.com
or
Scott Mangan, +1 908-439-2200, ext. 5593
Senior Financial Analyst
scott.mangan@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com